Reference no: EM133066951
Question - The Torre Company has the following stockholders' equity account balances in stockholders equity on December 31.
Common Stock - $5 par, 500,000 shares authorized $380,000
Paid-In Capital in Excess of Par-Common Stock 610,000
Preferred Stock - $100 par, 100,000 shares authorized 540,000
Paid-In Capital in Excess of Par-Preferred 100,000
Retained Earnings 240,000
Treasury Stock (cost - $10 per share) 90,000
Required - How many shares of common stock are outstanding?
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