Assessing Common Stock and Treasury Stock Balances

Following is the stockholders equity section of the Toyota Motor Corporation's balance sheet for the 2015 fiscal year, which ended on March 31, 2015.

Toyota Motor Corporation Shareholders' Equity (Millions of Yen)	March 31, 2015
Common stock, no par value: authorized 10,000,000,000 shares, issued
3,417,997,492 shares at March 31, 2015	397,050
Additional paid-in capital	547,054
Retained earnings	15,591,947
Accumulated other comprehensive income (loss)	1,477,545
Treasury stock, at cost: 271,183,861 shares at March 31, 2015	(1,225,465)
Total Toyota Motor Corporation shareholders' equity	16,788,131

Required a. Toyota has repurchased 271,183,861 shares that comprise its March 31, 2015 treasury stock account. Compute the number of outstanding shares as of March 31, 2015.

b. Assume that all of this treasury stock had been acquired in one purchase on July 1, 2014. What would have been the effect on the denominator of the basic EPS calculation? Round to nearest whole number.