Shareholders equity, Horton Industries’ shareholders’

Shareholders equity

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Reference no: EM131290137

Horton Industries’ shareholders’ equity included 170 million shares of $1 par common stock and a balance in paid-in capital—excess of par of $1,530 million.

Assuming that Horton retires shares it reacquires (restores their status to that of authorized but unissued shares), by what amount will Horton’s total paid-in capital decline if it reacquires 4 million shares at $8.00 per share? (Enter your answer in millions.)

Reference no: EM131290137

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