Question: The 2013 annual report for Golden Grains disclosed that 1 billion shares of common stock have been authorized. At the end of 2012, 800 million shares had been issued and the number of shares in treasury stock was 109 million. During 2013, the only common share transactions were that 17 million common shares were reissued from treasury and 28 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 2013. (Enter your answers in millions.)
Number of Common Shares (in millions)
(a) Issued Stock
(b) Treasury Stock
(c) Shares Outstanding