1. A firm has 2,280,000 authorized shares, 540,000 issued shares, and 370,000 outstanding shares before retiring shares on August 13th. The shares have a par value of $0.11. On August 13th, the firm retires 6,000 shares. How many outstanding shares does the firm have after the retirement?
3. A firm has 3,680,000 authorized shares, 700,000 issued shares, and 440,000 outstanding shares before completing a stock split. The shares have a par value of $0.08 before the stock split. The firm completes a reverse 3-to-1 split. What is the value in the common stock account before the stock split?