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

a. Suppose that FedEx now issues 6 million shares at $150 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 6 million shares at $150 per share?

Common shares ($0.10 par value per share) Additional paid-in capital Retained earnings Treasury shares at cost Other Net common equity Note: Authorized shares (millions) Issued shares, of which: Outstanding shares Treasury shares $ 37 3,093 23,718 (7,696) (365) $ 18,787 750 370