The Following Information Is from the Balance Sheet of Lawson

question 149

Multiple Choice

The following information is from the balance sheet of Lawson Corporation as of December 31, 2015. $$\begin{array} { | l | r | } \hline \text { Preferred Stock, } \$ 100 \text { par } & \$ 500,000 \\\hline \text { Paid-in Capital In Excess of Par-Preferred } & 35,000 \\\hline \text { Common Stock, } \$ 1 \text { par } & 170,000 \\\hline \text { Paid-in Capital in Excess of Par-Common } & 510,000 \\\hline \text { Retained Earnings } & \underline { 131,500 } \\\hline \text { Total Stockholders' Equity } & \$ 1,346,500 \\\hline\end{array}$$ What was the average issue price of the common stock shares?

• A) $1.90
• B) $1.00
• C) $3.00
• D) $4.00

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