Enscoe Enterprises, Incorporated $($EEI$)$ has $280,000$ shares authorized, $210,000$ shares issued, and $50,000$ shares of treasury stock. At

this point, EEl has $$920,000$ of assets. $$120,000$ liabilities, $$520,000$ of common stock, and $$280,000$ of retained earnings. Further,

assume that the market value of EEl's common stock is $$7$ per share.

Required

a$.$ Determine the number of shares of stock that is outstanding.

b$.$ Determine the book value per share.

c$.$ Provide a rational explanation for the difference between the book value per share and the market value per share of EEl's common

stock.

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Provide a rational explanation for the difference between the book value per share and the market value per share of EEIs' common stock.