Exercise 12-12 (Part Level Submission) The board of directors of Wildhorse Manufacturing is in the process of declaring a dividend. The company is considering paying a cash dividend of $14 per share. Wildhorse Manufacturing is authorized to issue 800.000 shares of common stock. The company has issued 418,000 shares to date and has reacquired 51,000 shares. These 51,000 shares are held in treasury. How many shares of common stock are eligible to receive a dividend? Number of shares eligible to receive dividend