The Following Information Is from the Balance Sheet of Tudor

question 62

Multiple Choice

The following information is from the balance sheet of Tudor Corporation as of December 31, 2014.
$\begin{array}{|l|r|r|}\hline \text { Preferred stock, } \$ 100 \text { par } & \quad\quad& \$ 500,000 \\\hline \text { Paid-in capital in excess of par-preferred } && 35,000 \\\hline \text { Common stock, } \$ 1 \text { par }& & 190,000 \\\hline \text { Paid-in capital in excess of par-common } & & 380,000 \\\hline \text { Retained earnings } & & 131,500 \\\hline \text { Total stockholders' equity } && \$ 1,236,500\\\hline \end{array}$

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What is the average issue price of the preferred stock shares?

• A) $107
• B) $100
• C) $176
• D) $5,000

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