Enscoe Enterprises, Incorporated $($EEI$)$ has $220,000$ shares authorized, $160,000$ shares issued, and $40,000$ shares of treasury stock. At this point, EEI has $$1,100,000$ of assets. $$260,000$ liabilities, $$400,000$ of common stock, and $$440,000$ of retained earnings. Further, assume that the market value of EEl's common stock is $$9$ per share.

Required

a$.$ Determine the number of shares of stock that is outstanding.

b$.$ Determine the book value per share.

c$.$ Provide a rational explanation for the difference between the book value per share and the market value per share of EEl's common stock.

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Required C

Determine the number of shares of stock that is outstanding.

Shares outstanding

shares