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Question - Shaikha PLC started operations on January 1st, 2019. Shaikha PLC is authorized to issue 10,000,000 ordinary shares. During the year, the firm issued 2,500,000 ordinary shares. During the year-2019, Shaikha PLC awarded 500,000 shares to its Directors and Senior Management for achieving profit targets. Shaikha PLC generated earnings after tax of $10,000,000, from which it declared and paid an ordinary dividend of $5,500,000. During the year, Shaikha PLC acquired and cancelled 250,000 ordinary shares. The balanced sheet indicates that Shaikha PLC's shareholder's equity is valued at $11,000,000.
Given the above information, calculate the number of shares remaining and yet to be issued on December, 31st 2019?
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