Presented below is information related to starr company. 1. net income [including a discontinued operations gain (net of tax) of $84,000] $258,500 2. capital structure a. cumulative 5% preferred stock, $100 par, 6,100 shares issued and outstanding $610,000 b. $10 par common stock, 74,000 shares outstanding on january 1. on april 1, 40,000 shares were issued for cash. on october 1, 16,000 shares were purchased and retired. $1,000,000 c. on january 2 of the current year, starr purchased oslo corporation. one of the terms of the purchase was that if oslo net income for the following year is $244,000 or more, 50,000 additional shares would be issued to oslo stockholders next year. oslo’s net income for the current year was $2,600,000. 3. other information a. average market price per share of common stock during entire year $30 b. income tax rate 30%