Find how many shares of common stock are outstanding

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The Torre Company has the following stockholders' equity account balances in stockholders equity on December 31. ?

Common Stock - $5 par, 500,000 shares authorized $320,000
Paid-In Capital in Excess of Par-Common Stock 680,000
Preferred Stock - $100 par, 100,000 shares authorized 580,000
Paid-In Capital in Excess of Par-Preferred 160,000
Retained Earnings 240,000
Treasury Stock (cost - $10 per share) 140,000

Problem 1: How many shares of common stock are outstanding?

Reference no: EM132964263

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