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Accounting for Share Transactions The shareholders' equity section of the consolidated balance sheet of Wilson Industries appeared as follows at the beginning of the year:
Accounting for Share Transactions The shareholders' equity section of the consolidated balance sheet of Wilson Industries appeared as follows at the beginning of the year:
Shareholders' Equity | |
Class A common stock, $0.04 par value; 20,000,000 shares authorized; | |
6,100,000 shares issued | $244,000 |
Additional paid-in-capital | 472,508,000 |
Retained earnings | 57,080,000 |
Currency translation adjustment | (9,648,000) |
Total equity | $520,184,000 |
The following events occurred sequentially during the year:
- A 2-for-1 forward stock split was executed.
- A ten percent stock dividend was distributed when the Wilson share price was $80 per share.
- Treasury stock valued at $12,000,000 was repurchased when the Wilson share price was $75 per share.
1. How many Class A common shares are outstanding following the above events?
Answer ????
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