The following information is from the December 31,2018 balance sheet of January Corporation.
What is the average issue price of the preferred stock shares? (Round answers to the nearest dollar. )
Definitions:
Bankrupt
The legal status of a person or entity that cannot repay the debts it owes to creditors, leading to legal intervention for asset distribution.
Accounts Payable
Liabilities of a business that are due to creditors within a short period, usually one year, and are to be paid in cash or other current assets.
Equipment
Tangible property used in the operations of a business not intended for sale, including machinery, computers, and furniture.
Cash
A form of currency that includes coins and paper bills.
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