1. On July 1, your company has 400,000 shares of $60 par value common stock that are issued and outstanding. On September 2, your company splits its stock 3-for-2 and reduces the par value to $40 per share. How many shares of common stock are issued and outstanding immediately after the stock split?

2. For the year 2016, Merck has 5,400 millions of authorized shares, 2,980 millions of issued shares, and 880 millions of treasury stock. How many common shares are outstanding as of December 31, 2016?