Analyzing and Computing Issue Price, Treasury Stock Cost, and Shares Outstanding

Following is the stockholders' equity section of the December $31,$ Pillar Inc. balance sheet.

a$.$ How many shares of Pillar common stock are outstanding at year$-$end:

shares outstanding

b$.$ What does the phrase $"$at paid$-$in amount" in the common stock account mean?

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

Note: Round your answers to two decimal places $($for example, enter $67\mathrm{.}49$ for $67\mathrm{.}48555).$

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

$1$ To increase the dilutive effects of shares issued to employees under stock option plans

$2$ To mitigate a takeover threat if the remaining shares are concentrated in "friendly hands

$3$ To send a signal to the market that the company feels its shares are overvalued.

$4$ To return excess cash to shareholders.

e$.$ What is meant by "Profit employed in the business

The account balance was $\backslash (\backslash$$ $26,301\backslash )$ million at the start of the year and the company reported net income of $\backslash (\backslash$$ $6,147\backslash )$ million for the year. What amount did the company record as dividends during the years $\backslash$$ million