Reference no: EM132190794

Question - Following is the stockholders' equity section of the Saints, Inc. 20X8 balance sheet ($ in thousands):

20X8 Common stock, $0.0001 par value (shares authorized-240,000,000, shares issued - 73,549,872)

Additional paid-in capital 551,004

Treasury stock, at cost 4,223,670 shares (218,692)

Retained earnings 1,063,633

Accumulated other comprehensive loss (1,345)

Total shareholders' equity $1,394,607

Required:

a. Saints has 240 million shares of common stock authorized, but only 73,549,872 shares issued. Why is there a difference between these two numbers?

b. Verify that Saints' common stock balance is $7 thousand.

c. How many common shares did Saints have outstanding at the end of the year?

d. Calculate the average cost at which Saints repurchased its common stock.