Essay
The following items were shown on the balance sheet of McKean Corporation on December 31, 2021: 
Instructions
Complete the following statements and show your calculations. All of the common shares were issued at $ 5 per share.
a) The number of common shares issued was ______.
b) The preferred shares dividend is $ ______ per share.
c) It would cost the company $ ______ to redeem 1,000 preferred shares.
d) The average issue price of the preferred shares was $ ______.
e) The total amount of cash and other assets paid to McKean Corporation in exchange for share capital, at December 31, 2021 was $ ______.
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a) The number of common shares issued wa...View Answer
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Correct Answer:
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