Answer:
Velcro World
1. Prefered stock issued = 5,800,000
2. Common stock issued = 28,000,000
3. Average price of preferred stock = $38
4. Net income for the year =                       $66
5. Average cost per share of the treasury stock acquired =  $30
Explanation:
a) Data and Calculations:
VELCRO WORLD
Balance Sheet (partial)
($ and shares in thousands)
Stockholders' equity:
Preferred stock, $1 par value      $ 5,800
Common stock, $1 par value       28,000
Additional paid-in capital         1,028,600
Total paid-in capital                 1,062,400
Retained earnings                     286,000
Treasury stock, 12,000             (360,000)
Total stockholders' equity     $ 988,400
1. Prefered stock issued = 5,800,000
2. Common stock issued = 28,000,000
3. Additional paid in capital = 1,028,600,000
less common stock (part)         812,000,000 ($29 * 28,000,000)
Preferred stock (part)               216,600,000
add Preferred stock                     5,800,000
Total preferred stock value    222,400,000
Average price = 222,400,000/5,800,000 = $38
4. Retained earnings at the end =        $286,000,000
add dividends paid during the year          30,000,000
Retained earnings at the beginning = $250,000,000
Net income for the year =                       $66,000,000
$66
5. Average cost per share of the treasury stock acquired = $360,000,000/12,000,000 = $30