are given the following information for Company ABC as of De

are given the following information for Company ABC as of December 31, 2016 apital Stock, $1,000,000 ($1 par) aid-In Capital in Excess of Par Value-Common, $4,000,000 etained Earnings Balance on January 1, 2016, $400,000 etained Eamings Balance on December 31, 2016, $300,000 vidends declared and paid in 2016: $1,100,000 many shares of stock are issued and outstanding? ect one a. 4,000,000 b5,000,000 c 1,000,000 d. None of the above

Solution

ANSWER = C) 1,000,000

Capital stock = $1,000,000

Par value = $1

therefore, Shares issued and outstanding = 1,000,000