Changes in ADM?’s Stockholders’ Equity The following information is taken from Archer Daniels Midland Company’s statement of stockholders’ equity (in thousands):

In the company’s annual report, the footnote disclosure relating to stockholders’ equity states:
The company has authorized 800 million shares of common stock and 500,000 shares of preferred stock, both without par value. No preferred stock has been issued.
At June 30, 1998 and 1997, the Company had approximately 5.9 million and 20.7 million common shares, respectively, in treasury. Treasury stock is recorded at cost, $102 million at June 30, 1998, as a reduction of common stock.
Based on ADM’s financial statement information, answer the following questions:

a. What was the total number of shares of common stock outstanding at June 30, 1998?

b. What was the total number of shares of common stock that had been issued as of June 30, 1998?

c. On average, what was the price paid per share of treasury stock purchased during the year ended June 30, 1998?

Did the number of treasury shares held by ADM increase or decrease during the year ended June 30, 1998? By what amount?

e. What number of shares of treasury stock apparently were sold in the year ended June 30, 1998?

f. What effect did the stock dividend have on ADM’s retained earnings? On its total stockholders’ equity?

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Common Stock Shares Amount Balance, June 30, 1997 557,874 $4,192,321 5% stock dividend 28.534 473.948 Treasury stock purchases (3,767) (81,154) Common stock issued in purchase 13.953 298,244 Other 2,627 53.290 Balance, June 30, 1998 599,221 $4,936,649