The balance sheet for ABC Company on 12/31/2017 showed total assets of $4,274 million, total liabilities of $2,448 million, and total equity of $1,826. The following is a condensed version of the statement of shareholders equity for ABC for the fiscal year ending December 31, 2017 (in millions of dollars):

Balance on January 1, 2017	1,782
Net income ( net of $230 reported taxes)	538
Unrealized holding gain on Investments net of tax benefit	14
Sale of common stock	37
Stock based compensation expense	85
Shares issued on exercise of options including tax benefit of $70	180
Repurchase of 25.3 million shares	(810)
Balance on December 31,2017	1,826

The following information is also provided in the equity footnote in the firms 10-K for 2017 (number of shares in millions):

	Shares subject to options	Weighted Average Exercise Price/share
Outstanding January 1, 2017	69	16.5
Granted	12	36
Exercised	(12.5)	10.5
Cancelled/forfeited	(3.5)	31
Outstanding and Exercisable 12/ 31/ 2017	52	21

Additional Information:

The share repurchase occurred when the stock traded at $26 per share. At the balance sheet date in 2017, ABC had 100 million shares outstanding and the stock traded at $22.8.

The firm reported $15 million in interest income and $120 million in interest expense for 2017. Sales revenue was $3,700 million. The firms statutory tax rate is 35%.

Required:

Prepare a reformulated stockholders equity for fiscal year ending December 31, 2017.

Compute the Option Overhang at December 31, 2017.