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Oxford Inc. was authorized to issue 200,000 10 par value ordinary shares. As of December 31, 2020, the company had issued 98,000 shares at an
Oxford Inc. was authorized to issue 200,000 10 par value ordinary shares. As of December 31, 2020, the company had issued 98,000 shares at an average price of 22 per share. During 2020, the company felt that the shares were undervalued so it purchased 25,000 treasury shares at 18 per share. When the share price rebounded later in the year, the company sold 17,000 of the treasury for 25. Retained earnings was 829,000 at December 31, 2020.
As of December 31, 2020, the number of outstanding ordinary shares is
A. 200,000
B. 115,000
C.90,000
D. 76,000
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