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Determine and estimate number of shares issued at the end

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Frey & Felder has sales in excess of $83 billion and sells products that are part of most of our daily lives. A recent annual report for F&F contained the following information:

Point 1: Retained earnings at the end of 2013 totaled $80,597 million.

Point 2: Net income for 2014 was $11,843 million.

Point 3: Par value of the stock is $1 per share.

Point 4: Cash dividends declared in 2014 were $6,890 million.

Point 5: The Common Stock account totaled $4,049 million at the end of 2014 and $4,049 million at the end of 2013.

Assume that no other information concerning stockholders' equity is relevant:

Question 1: Estimate the number of shares issued at the end of 2014. (Enter your answer in a whole number not in millions (i.e., 1,000,000 not 1.0).)

Reference no: EM132474303

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