Ton Company was incorporated on January 1, 2018. The following information pertains to Ton's share capital transactions:
Jan. 2 Number of shares authorized 80,000
Feb. 1 Number of shares issued 60,000
July 1 Number of shares reacquired 5,000
Dec. 1 Two-for-one share split
On December 31, 2018, what is the number of shares outstanding?

Select one:

a. 110,000

b. 120,000

c. 115,000

d. 150,000

Answer rating: 100% (QA)

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