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You are given the following information for company abc as

Question - You are given the following information for Company ABC as of December 31, 2016:

Capital Stock, $1,000,000 ($1 par)

Paid-In Capital in Excess of Par Value-Common, $4,000,000

Retained Earnings Balance on January 1, 2016, $400,000

Retained Earnings Balance on December 31, 2016, $300,000

Dividends declared and paid in 2016: $1,100,000

How many shares of stock are issued and outstanding?

a. 4,000,000

b. 5,000,000

c. 1,000,000

d. None of the above

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