Question: Return to question o The 2016 annual report for Mega Mills disclosed that 1 billion shares of common stock have been authorized. At the end

 Return to question o The 2016 annual report for Mega Mills

Return to question o The 2016 annual report for Mega Mills disclosed that 1 billion shares of common stock have been authorized. At the end of 2015, 835 million shares had been issued and the number of shares in treasury stock was 116 million. During 2016, the only common share transactions were that 20 million common shares were reissued from treasury and 35 million common shares were purchased and held as treasury stock. Required: Determine the number of common shares (a) issued, (b) in treasury, and (c) outstanding at the end of 2016. (Enter your answers in millions.) Answer is complete but not entirely correct. (a) (b) (c) Issued Stock Treasury Stock Shares Outstanding Number of Common Shares (in millions) 835,000,000 131,000,000 704,000,000

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