Equity Accounts $($LO$3)$

Book value of common stockholders$$ equity of FedEx, May $31,2020($figures in $ millions$)$

Common shares $($$$0\mathrm{.}10$ par value per share$)$ $ $35$

Additional paid$-$in capital $3,091$

Retained earnings $23,716$

Treasury shares at cost $(7,666)$

Other $(363)$

Net common equity $ $18,813$

Note:

Authorized shares $($millions$)$

Issued shares, of which:

Outstanding shares $305$

Treasury shares $45$

Required:

Suppose that FedEx now issues $4$ million shares at $$190$ a share. Update the table below with the new values.

What would happen to the book value of common stockholders$$ equity if instead FedEx bought back $4$ million shares at $$190$ per share?