ABC, Inc. Shareholders’ Equity
Paid-in capital:
Common stock, 300,000 shares at $1.00 par	$300,000
Paid-in capital in excess of par	600,000
Less: Treasury stock, 50,000 shares at cost	(50,000)
Total shareholders’ equity	$850,000

In Texas, the number of treasury shares owned by the shareholders of ABC, Inc. are:

a. 250,000

b. 300,000

c. 50,000

d. Cannot be determined from the information provided.

e. None of the other choices are correct.