ABC, Inc. Shareholders Equity Paid-in capital: Common stock, 500,000 shares at $1.00 par $500,000 Paid-in capital in excess of par 600,000 Less: Treasury stock, 100,000 shares at cost (100,000) Total shareholders equity $1,000,000 What are the number of shares issued and outstanding (this is not asking about the number of shares issued)?

a. This cannot be determined from the information given. b. 100,000 c. 500,000 d. 400,000 e. None of the other choices are correct.