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Preferred stock, $100 par value; authorized, 210,000 shares; issued, 21,000 shares $2,100,000 Common stock, $5 par value; authorized, 1,400,000 shares; issued, 280,000 shares 1,400,000 Paid-in capital in excess of parpreferred 105,000 Paid-in capital in excess of parcommon 595,000 Retained earnings 3,000,000 $7,200,000 The following events occurred during 2013: Jan. 5 30,000 shares of authorized and unissued common stock were sold for $10 per share. Jan. 16 30,000 shares of authorized and unissued preferred stock were sold for $109 per share. April 1 40,000 shares of common stock were repurchased for the treasury at a price of $15 per share. Superior uses the cost method to account for treasury stock. Sept. 1 4,000 shares of preferred stock are issued in exchange for a piece of land. The land has an appraised value of $444,000. The preferred stock currently trades on the New York Stock exchange at a price of $109 per share. Dec. 1 15,000 shares of treasury stock are reissued at a price of $20 per share Calculate the number of authorized, issued, and outstanding common shares as of December 31, 2013. Authorized common shares: shares Issued shares: shares Outstanding shares: Calculate Superior's legal capital at December 31, 2013. Total legal capital :

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