Enscoe Enterprises, Incorporated $($EEI$)$ has $360,000$ shares authorized, $300,000$ shares issued, and $50,000$ shares of treasury stock. At this point, EEl has $$2,350,000$ of assets. $$100,000$ liabilities, $$700,000$ of common stock, and $$1,550,000$ of retained earnings. Further, assume that the market value of EEl's common stock is $$11$ 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.

Complete this question by entering your answers in the tabs below.

Required A

Required C

Determine the number of shares of stock that is outstanding.

Shares outstanding

shares