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Determining the outstanding common shares

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At December 31, 20x7, Tobi Inc. had 249,316 common shares outstanding. During the year 20x7, the company completed the following transactions:

February 1, 20x7 Issued 24,064 common shares for cash of $45,000

July 30, 20x7 Declared a 2-for-1 stock split

October 1, 20x7 Retired 3,134 common shares for $12,500

How many common shares were outstanding at the beginning of the year 20x7 (round to the nearest whole dollar)?

Reference no: EM133206100

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