The 2016 annual report for mega mills disclosed that 1 billion shares of common stock have been authorized. at the end of 2015, 750 million shares had been issued and the number of shares in treasury stock was 103 million. during 2016, the only common share transactions were that 16 million common shares were reissued from treasury and 22 million common shares were purchased and held as treasury stock.
required:
1. determine the number of common shares (a) issued, (b) in treasury, and (c) outstanding at the end of 2016. (enter your answers in millions.)

Maldonia has a comparative advantage in the production of , while lamponia has a comparative advantage in the production of . suppose that maldonia and lamponia specialize in the production of the goods in which each has a comparative advantage. after specialization, the two countries can produce a total of million pounds of lemons and million pounds of coffee.

Walsh company manufactures and sells one product. the following information pertains to each of the company’s first two years of operations: variable costs per unit: manufacturing: direct materials $ 25 direct labor $ 12 variable manufacturing overhead $ 5 variable selling and administrative $ 4 fixed costs per year: fixed manufacturing overhead $ 400,000 fixed selling and administrative expenses $ 60,000 during its first year of operations, walsh produced 50,000 units and sold 40,000 units. during its second year of operations, it produced 40,000 units and sold 50,000 units. the selling price of the company’s product is $83 per unit. required: 1. assume the company uses variable costing: a. compute the unit product cost for year 1 and year 2. b. prepare an income statement for year 1 and year 2. 2. assume the company uses absorption costing: a. compute the unit product cost for year 1 and year 2. b. prepare an income statement for year 1 and year 2. 3. reconcile the difference between variable costing and absorption costing net operating income in year 1.

Compute the cost of not taking the following cash discounts. (use a 360-day year. do not round intermediate calculations. input your final answers as a percent rounded to 2 decimal places.)