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8 November, 08:41

In a recent annual report, Rosh Corporation disclosed that 60,000,000 shares of common stock have been authorized. At the beginning of the fiscal year, a total of 36,356,357 shares had been issued and the number of shares in treasury stock was 7,171,269. During the year, 558,765 additional shares were issued, and the number of treasury shares increased by 3,034,188. Determine the number of shares outstanding at the end of the year. (Amounts to be deducted should be indicated by a minus sign.)

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  1. 8 November, 09:40
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    33,880,934 stocks

    Explanation:

    total number of authorized stocks = 60,000,000

    stocks issued at beginning of the year = 36,356,357

    treasury stocks at beginning of the year = 7,171,269

    net change in total stocks outstanding = additional shares issued - increase in treasury stocks = 558,765 - 3,034,188 = - 2,475,423

    total number of stocks outstanding = outstanding stocks at the beginning of the year + net change in stocks outstanding = 36,356,357 - 2,475,423 = 33,880,934 stocks
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