In a recent annual report, Fourth Wall Inc. (formerly Greencube) disclosed that 61,700,000 shares of common stock have been authorized. At the beginning of the fiscal year, a total of 35,959,092 shares had been issued and the number of shares in treasury stock was 7,341,269. During the year, 567,265 additional shares were issued, and the number of treasury shares increased by 3,119,188. 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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Business

Terrence Schmidt

Today, 10:10

In a recent annual report, Fourth Wall Inc. (formerly Greencube) disclosed that 61,700,000 shares of common stock have been authorized. At the beginning of the fiscal year, a total of 35,959,092 shares had been issued and the number of shares in treasury stock was 7,341,269. During the year, 567,265 additional shares were issued, and the number of treasury shares increased by 3,119,188. 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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Pierce Gray · Answer 1

The number of outstanding shares is 26,065,900.00

Explanation:

The number of shares outstanding at the end of the year comprises of all issued shares minus all treasury stock.

The company had issued 35,959,092 shares as well as 567,265 shares till date, hence total issued shares is 36,526,357 shares (35,959,092+567,265)

However, the total number of treasury stock to date is 10,460,457 (7,341,269+3,119,188)

Outstanding shares=36,526,357-10,460,457 = 26,065,900.00