Analyzing and Computing Issue Price, Treasury Stock Cost, and Shares Outstanding Following is the stockholders’ equity section of the 2015 Merck & Co. Inc. balance sheet.

Stockholders’ Equity ($ millions) 2015 Common stock, $0.50 par value; Authorized—6,500,000,000 shares;

Issued—3,577,103,522 shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,788 Other paid-in capital. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40,222 Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45,348 Accumulated other comprehensive loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . (4,148)

Stockholders’ equity before deduction for treasury stock . . . . . . . . . . . . . . . 83,210 Less treasury stock, at cost: 795,975,449 shares . . . . . . . . . . . . . . . . . . . . . 38,534 Total Merck & Co. Inc. stockholders’ equity. . . . . . . . . . . . . . . . . . . . . . . . . . $44,676

a. Show the computation of the $1,788 million in the common stock account.

b. At what average price were the Merck common shares issued?

c. At what average cost was the Merck treasury stock purchased?

d. How many common shares are outstanding as of December 31, 2015?