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P3-7 Initial sale price of common stock Hudson-Perry Recordings Inc. has one issue of preferred...

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P3-7 Initial sale price of common stock Hudson-Perry Recordings Inc. has one issue of preferred stock and one issue of common stock outstanding. Given their stockholders' cquity account that follows, determine the original price per share at which the firm sold its single issue of common stock. Stockholders' Equity (5000) Preferred stock Common stock ($0.10 par, 1,400,000 shares outstanding) Paid-in capital in excess of par on common stock Retained carings Total stockholders' equity $ 225 140 19,460 1,800 $21,625

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