Reference no: EM132771233
Athens City reported the following information at December 31:
Preferred Stock, $3 par, 10,000 shares authorized $ 8,700
Additional paid-in capital - preferred stock 17,400
Common stock, $2.50 par, 16,000 shares authorized 20,000
Additional paid-in capital - common stock. 8,800
Retained earnings 27,000
Treasury stock, at cost of $5 per share. (3,000 )
Total $78,900
Problem 1: How many shares of common stock are outstanding?
Select one:
a. 7,400
b. 6,900
c. 8,000
d. 7,800
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