Reference no: EM133048811
Question - SALP Corp. reported the following in its statement of shareholders' equity on January 1, 2019:
Ordinary share, $5 par value, 200,000 shares authorized, 100,000 shares issued $500,000
Additional paid-in capital 1,500,000
Retained earnings 516,000
Treasury shares, 6,000 shares at cost 42,000
The following events occurred in 2019:
May 1 - 2,000 treasury shares were sold for $20,000
July 9 - 15,000 shares previously unissued shares were sold for $12 per share
Oct. 15 - There was a 3-for-2 share split
Required - How many shares are outstanding at December 31, 2019?
A. 333000 B. 212000 C. 166500 D. 160500
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