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Shown below is information relating to the stockholders' equity of Reeve Corporation as of December...

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Accounting

Shown below is information relating to the stockholders' equity of Reeve Corporation as of December 31, Year 1: 8.5% cumulative preferred stock, $100 par value; authorized, ?? shares; issued and outstanding, ?? shares $ 900,000 Common stock, $10 par value; authorized, 340,000 shares; issued and outstanding, 136,000 shares 1,360,000 Additional paid-in capital: Common stock 1,088,000 Retained earnings (Deficit) (68,000) Dividends in arrears 76,500 How many shares of preferred stock are issued and outstanding? Multiple Choice 90,000 shares 13,600 shares 34,000 shares 9,000 shares

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