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The Following Information Is from the December 31,2017 Balance Sheet

question 94

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The following information is from the December 31,2017 balance sheet of Jackson Corporation.  Preferred Stock, $100 par $270,000 Paid-In Capital in Excess of Par-Preferred 22,000 Common Stock, $1 par 69,000 Paid-In Capital in Excess of Par-Common 206,000 Retained Earnings 56,600 Total Stockholders’ Equity $623,600\begin{array} { | l | r | } \hline \text { Preferred Stock, } \$ 100 \text { par } & \$ 270,000 \\\hline \text { Paid-In Capital in Excess of Par-Preferred } & 22,000 \\\hline \text { Common Stock, } \$ 1 \text { par } & 69,000 \\\hline \text { Paid-In Capital in Excess of Par-Common } & 206,000 \\\hline \text { Retained Earnings } & \underline { 56,600 } \\\hline \text { Total Stockholders' Equity } & \$ 623,600 \\\hline\end{array} What is the average issue price of the preferred stock shares? (Round answers to the nearest dollar. )

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Definitions:

Sensory Experience

The subjective experience that results from the processing of sensory input (e.g., sight, sound, touch, taste, and smell) by the nervous system.

Lack of Control

A situation or feeling where an individual perceives they have no power or influence over events or outcomes in their life.

Tortured

Subjected to severe physical or psychological pain or suffering, often as a form of punishment or to extract information.

Accidental Injuries

Bodily harm resulting from unexpected events or accidents, not intentionally self-inflicted.

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