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56% story Bookmarks People Tab Window Help * CengugeNOWV2 Online toacl X Nearpod. Guest Speaker genow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false eBook Stockholders' Equity Category Peeler Company was incorporated as a new business on January 1, 2017. The corporate charter approved on that date authorized the issuance of 1,200 shares of $100 par, 7% cumulative, nonparticipating preferred stock and 14,000 shares of $5 por common stock. On January 10, Peeler issued for cash 450 shares of preferred stock at $126 per share and 4,300 shares of common stock at $80 per share. On January 20, it issued 1,400 shares of common stock to acquire a building site at a time when the stock was selling for $71 per share. During 2017, Pecer established an employee benefit plan and acquired 550 shares of common stock at $60 per share as treasury stock for that purpose. Later in 2017, it resold 120 shares of the stock at $66 per share. On December 31, 2017, Peeler determined its net income for the year to be $43,100. The firm declared the annual cash dividend to preferred stockholders and a cash dividend of $5 per Share to the common stockholders. The dividends will be paid in 2018. 2. Indicate on the statement the number of shares authorized, issued, and outstanding for both preferred and common stock Preferred Stock Common Stock Number of shares authorized 57,000 Number of shares issued 24,500 Number of shares outstanding 17100

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