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Question - Beimesche Corporation's corporate charter authorizes the business to issue 1,200,000 shares of common stock. 200,000 shares were issued when the corporation was formed. Two years later, 150,000 additional shares were issued. In year 3, the company reacquired 40,000 shares of its own stock. At the beginning of year 5, Beimesche issued 75,000 shares of previously unissued stock. How many shares are authorized as of December 31, year 5?
a. 350,000
b. 1,200,000
c. 385,000
d. 425,000
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