Book value of common stockholders equity of FedEx, February 28, 2018 (figures in $ millions)

Common shares ($0.10 par value per share)	$	36
Additional paid-in capital		3,092
Retained earnings		23,717
Treasury shares at cost		(7,681	)
Other		(364	)
Net common equity	$	18,800
Note:
Authorized shares (millions)		700
Issued shares, of which:		360
Outstanding shares		314
Treasury shares		46

Required:

a. Suppose that FedEx now issues 5 million shares at $140 a share. Update the table below with the new values.

b. What would happen to the book value of common stockholders equity if instead FedEx bought back 5 million shares at $140 per share?

• Required A

Suppose that FedEx now issues 5 million shares at $140 a share. Update the table below with the new values. (Negative amounts should be indicated by a minus sign. Enter your answers in millions rounded to 1 decimal place.)

Common shares ($0.10 par value per share)
Additional paid-in capital
Retained earnings
Treasury shares at cost
Other
Net common equity	0.0

Required B

What would happen to the book value of common stockholders equity if instead FedEx bought back 5 million shares at $140 per share? (Negative amounts should be indicated by a minus sign. Enter your answers in millions rounded to 1 decimal place.)

Common shares ($0.10 par value per share)
Additional paid-in capital
Retained earnings
Treasury shares at cost
Other
Net common equity	0.0