The following information has been excerpted from the statement of stockholders equity included in a recent annual

The following information has been excerpted from the statement of stockholders’ equity included in a recent annual report of Thompson Supply Company. (Dollar figures are in millions.)

Instructions
Use the information about Thompson Supply to answer the following questions.
a. How many shares of common stock are outstanding at the beginning of the year? At the end of the year?
b. What was the total common stock dividend declared during the presented year? Thompson’s annual report disclosed that the common stock dividend during that year was $1.23 per share.
Approximately how many shares of common stock were entitled to the $1.23 per share dividend during the year? Is this answer compatible with your answers in part a?
c. The statement presented indicates that common stock was both issued and repurchased during the year, yet the number of common shares shown and the common stock amount (first and second columns) did not change from the beginning to the end of the year. Explain.
d. What was the average price per share Thompson paid to acquire the treasury shares held at the beginning of the year?
e. Was the aggregate issue price of the 601,300 treasury shares issued during the year for stock option plans higher or lower than the cost Thompson paid to acquire those treasury shares?
f. What was the average purchase price per share paid by Thompson to acquire treasury shares during the current year?
g. In its annual report, Thompson disclosed that the (weighted) average number of common shares outstanding during the year was 77,500,000. In part a above, you determined the number of common shares outstanding as of the end of the year. Which figure is used in computing earnings per share? Which is used in computing book value pershare?

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Additional Paid-in Capital Common Stock Treasury Stock Retained Earnings Shares Amount Shares Amount Balances, begin- ning of year 82,550,000 $425.0 $29.5 $950.2 4,562,500 (135.9) Net income 200.0 Cash dividends declared on common stock (95.7) Common stock issued for stock option (601,300) 16.7 1235,700 (78.6) $1,054.5 5,196,900 (197.8) plans Repurchases of common stock Balances, year end 82,550,000 $425.0 $28.1