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E11-1 (Algo) Computing Shares Outstanding [LO 11-1) The annual report for Oats & Wheat disclosed that 1 billion shares of common stock have been authorized.

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E11-1 (Algo) Computing Shares Outstanding [LO 11-1) The annual report for Oats & Wheat disclosed that 1 billion shares of common stock have been authorized. At the beginning of 2017, 755 million shares had been issued and the number of shares in treasury stock was 102 million During 2017, the only common share transactions were that 17 million common shares were reissued from treasury and 23 million common shares were purchased and held as treasury stock. Required: Determine the number of common shares () issued. (b) in treasury, and (c) outstanding at the end of 2017. (Enter your answers in millions.) Number of Common Shares (in millions) (a) Issued Stock (b) Treasury Stock (c) Shares Outstanding E11-7 (Algo) Finding Amounts Missing from the Stockholders' Equity Section [LO 11-2, LO 11-4) The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts: Contributed Capital Preferred Stock (par $20; authorized 10,000 shares, 7 issued, of which 1,000 shares are held as treasury stock) $ 124,000 Additional Paid-In Capital, Preferred 20,150 Common Stock (no-par; authorized 20,000 shares, issued and outstanding 7,000 shares) 770,000 Retained Earnings 40,000 Treasury Stock, 1,000 Preferred shares at cost (10,000) Assume that no shares of treasury stock have been sold in the past. Required: Complete the following statements. (Decreases should be indicated by a minus sign. Round per share to 2 decimal places.) per share 1. The number of shares of preferred stock issued was 2. The number of shares of preferred stock outstanding was 3. The average issue price of the preferred stock was 4. The average issue price of the common stock was 5. The treasury stock transaction increased (decreased) stockholders' equity by 6. The treasury stock cost 7. Total stockholders' equity is per share

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