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The annual report for Oats & Wheat disclosed that 1 billion shares of common stock have been authorized. At the beginning of 2017, 755
The annual report for Oats & Wheat disclosed that 1 billion shares of common stock have been authorized. At the beginning of 2017, 755 million shares had been issued and the number of shares in treasury stock was 102 million. During 2017, the only common share transactions were that 17 million common shares were reissued from treasury and 23 million common shares were purchased and held as treasury stock. Required: Determine the number of common shares (a) issued, (b) in treasury, and (c) outstanding at the end of 2017. (Enter your answers in millions.) Answer is complete but not entirely correct. (a) Issued Stock (b) Treasury Stock (c) Shares Outstanding Number of Common Shares (in millions) 800,000,000 120,000,000 680,000,000
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