Following is the stockholders' equity section of the 2007 Caterpillar. Inc., balance sheet.

a. How many shares of Caterpillar common stock are outstanding at year-end 2007?

b. What does the phrase "at paid-in amount" in the stockholders' equity section mean?

c. At what average cost has Caterpillar repurchased its stock as of year-end 2007?

d. Why would a company such as Caterpillar want to repurchase its common stock?

e. Explain how CAT's "issued shares" remains constant over the three-year period while the dollar amount of its common stock account increases.

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Stockholders' Equity ($ millions) Common stock of $1.00 par; Authorized shares: 900,000,000: Issued shares (2007, 2006 and 2005-814,894,624) at paid-in amount.... Treasury stock (2007-190,908,490 shares; 2006-169,086,448 shares; 2005-144,027,405 shares) at cost... Profit employed in the business... Accumulated other comprehensive income. Total stockholders' equity. 2007 2006 2005 $2,744 $2,465 $1.859 (9,451) (7,352) (4.637) 17,398 14,593 11.808 (1,808) (2,847) (598) $8,883 $6,859 $8,432