Following is the stockholders' equity section of the Merck & Co., Inc., balance sheet.

a. Explain the derivation of the $1,788 million in the common stock account.

b. Using December 31, 2017, balances, at what average issue price were the Merck common shares issued?

c. At what average cost was the Merck treasury stock as of December 31, 2017?

d. How many common shares are outstanding as of December 31, 2017?

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Merck & Co., Inc. Stockholders' Equity (S millions) Dec. 31, 2017 Dec. 31, 2016 Common stock, $0.50 par value Authorized-6,500,000,000 shares Issued-3,577,103,522 shares in 2017 and 2016....... Other paid-in capital. .. Retained earnings. Accumulated other comprehensive income (loss), $ 1,788 $ 1,788 39,902 39,939 41.350 44,133 (4,910) (5,226) 78,130 80,634 Less treasury stock, at cost: 880,491,914 shares in 2017 and 828,372,200 shares in 2016... 43,794 40,546 Total Merck & Co., Inc. stockholders' equity. . $34,336 $40,088