In 1999 Pfizer had 9,000 million shares of common stock authorized, 4,260 million in issue, and 3,847 million outstanding (figures rounded to the nearest million). Its equity account was as follows:
|
Common stock
|
$213
|
|
Additional paid-in capital
|
5,416
|
|
Retained earnings
|
10,109
|
|
Treasury shares
|
6,851
|
Currency translation adjustment and contributions to an employee benefit trust have been deducted from retained earnings.
a. What is the par value of each share?
b. What was the average price at which shares were sold?
c. How many shares have been repurchased?
d. What was the average price at which the shares were repurchased?
e. What is the value of the net common equity?