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Croydon Corporation had 15,000 million shares of common stock authorized in 2010. It issued 9,500 million shares with par value of $1.50 per share. It

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Croydon Corporation had 15,000 million shares of common stock authorized in 2010. It issued 9,500 million shares with par value of $1.50 per share. It raised capital of $19,000 at the initial issue. Retained earnings in 2019 were $995 million. During 2019, treasury shares were purchased at a price of $1.1 per share. At the end of 2019, 8,750 were outstanding. Find the Net Common Equity. (Show all working and calculations in your answer)

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