Analyzing and Computing Dividends and Effect of Options Exercises
Following is the stockholders' equity section of the Intuit Inc. balance sheet (dollars in millions, except par value; shares in thousands). Changes in the company's outstanding shares are due to (1) treasury share purchases by the company and (2) issues of treasury shares for employee stock options.

Stockholders' Equity ($ millions)	July 31, 2014	July 31, 2013
Preferred stock, $0.01 par value
Authorized-1,345 shares total; 145 shares designated Series A;
250 shares designated Series B Junior Participating
Issued and outstanding - none	$ -	$ -
Common stock, $0.01 par value
Authorized-750,000 shares
Outstanding-286,085 shares at July 31,2014 and 301,848 shares at July 31,2013	3	3
Additional paid-in capital	3,558	3,198
Treasury stock, at cost	(6,430)	(4,952)
Accumulated other comprehensive income (loss)	(2)	20
Retained earnings	6,516	5,718
Total stockholders? equity	$3,645	$3,987

a. In the fiscal year ended July 31,2014, Intuit reported net income of $1,019 million. How much did Intuit pay in dividends to its common shareholders?

$Answer

million

b. In the fiscal year ended January 31,2014, Intuit repurchased 23,034 thousand of its common shares. How many shares were issued to employees under stock option plans?

Answer

thousand shares

c. Intuit's issuance of shares for stock option plans increased the Additional paid-in capital balance by $74 million. Was the (average) option exercise price greater or less than the (average) amount Intuit paid to acquire the treasury shares that were reissued?

The (average) option exercise price was Answergreaterless

than the (average) amount intuit paid.