Is determined by whether the company satisfies the needs of the stakeholders.

Competitiveness is determined by whether the company satisfies the needs of the stakeholders.
The term competitiveness is an economic term that describes the ability of a company to maintain and gain market share in its industry, which means to keep the quality of the products and to meet the quality standards, so the company can compete effectively on the market.

Journal entry

Explanation:

The journal entry is as follows

Preferred Stock $55,000   (1,100 shares × $50)

Paid in capital Preferred Stock $15,400  {1,100 shares × ($64 - $50)}

          To Common Stock $22,000   (2,200 shares × $10)

         To Paid in capital common stock Additional $48,400

(Being the conversion of the preferred stock is recorded