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The following information comes from the 2024 Annual Report to stockholders of Composition Incorporated (in thousands): From the Statement of Changes in Shareholders' Equity:
The following information comes from the 2024 Annual Report to stockholders of Composition Incorporated (in thousands): From the Statement of Changes in Shareholders' Equity: BALANCES at December 31, 2022 Net earnings Sales of common stock under option plans $ 0 Paid-in capital-excess Number of Treasury of par shares (30,701) Treasury stock amount $ (525,721) Retained earnings $ 1,674,782 244,341 (5,321) 391 10,878 Cash dividends declared on common stock: $0.544 per share (69,092) Compensation under employee incentive plans Treasury shares exchanged for Acquisitions (1,942) 409 9,548 140,609 20,589 319,693 Purchase of shares for treasury (6,808) BALANCES at December 31, 2023 Net earnings Sales of common stock under option plans Cash dividends declared on common stock: $0.554 per share Compensation under employee incentive plans Purchase of shares for treasury BALANCES at December 31, 2024 From the Statement of Cash Flows: Cash flows from financing activities: 133,346 (16,120) (124,306) (309,908) (3,678) 293 7,235 1,850,031 82,105 (74,303) (210) 380 (3,073) 8,411 (48,818) $ 129,458 (18,520) $ (343,080) $ 1,857,833 2024 2023 Dividends paid $ 72,384 $ 67,072 Required: How many shares of treasury stock were removed for use during 2023? Note: Enter your answer in thousands. Treasury stock removed during 2023
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Step: 1
To calculate the treasury stock removed for use during 2023we need to analyze the changes in the Number of Treasury shares account from December 312022to December 312023 Heres the breakdown Beginning ...Get Instant Access to Expert-Tailored Solutions
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Step: 2
Step: 3
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