Delta Corporations corporate charter authorizes the company to sell 450,000,000 shares of $1.50 par common stock .

Question:

Delta Corporation’s corporate charter authorizes the company to sell 450,000,000 shares of $1.50 par common stock. As of December 31, 2011, the company had issued 180,915,000 shares of common stock for an average price of $4 each. Delta has 57,000,000 shares of treasury stock. How many shares of common stock will be disclosed as authorized, issued, and outstanding on the December 31, 2011, balance sheet?

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...