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

Merck & Co., Inc. Stockholders' Equity ($ millions)	Dec. 31, Current Year	Dec. 31, Prior Year
Common stock, $0.50 par value
Authorized- 6,500,000,000 shares
Issued- 3,312,587,054 shares in current and prior year	$1,657	$1,657
Other paid-in capital	36,987	37,298
Retained earnings	46,021	39,257
Accumulated other comprehensive loss	(4,323)	(2,197)
	80,342	76,015
Less treasury stock, at cost:
737,005,489 shares in current year and 649,576,808 shares in prior year	32,114	28,789
Total Merck & Co., Inc. stockholders' equity	$48,228	$47,226

a. Explain the derivation of the $1,657 million in the common stock account. Complete the calculation of total amount of shares.

Enter share amounts in millions ($3,000,000 = $3).

Round share amounts to the nearest whole number.

Answer

million shares X $Answer

= Answer

million

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

Round answer to two decimal places.

$Answer

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

Round answer to two decimal places.

$Answer

d. How many common shares are outstanding as of December 31 of the current year?

Enter full number - do not convert to millions or round answer.

Answer

shares