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Test #4 Ch 9.10 and 11 47 22 The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts: Level Contributed Capital Preferred Stock (par $20; authorized 10,000 shares, 7 issued, of which 1,000 shares are held as treasury tock). Additional Paid-In Capital, Preferred Cok (par) author Led 20,000 shares, issued and outstanding 6,800 shares) Retained Earnings 1. The number of shares of preferred stock issued was 2 The number of shares of prefered stock outstanding was 3 The average issue price of the prefered stock was 4 The average issue price of the common stock was Assume that no shares of treasury stock have been sold in the past. Required: Complete the following statements. (Decreases should be indicated by a minus sign. Round per share to 2 decimal places) The treasury stock transaction increased idecreased) stockholders equity by 6 The treasury stock cost 7 Total stockholders' equity $120,000 18,900 734,400 18,000 per share por share Help Save & Ex