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    Shares outstanding and average price

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    Following are the equity accounts for Kerch Manufacturing (this should be completed in Excel).

    Common stock, $2 par $135,430
    Capital surplus 203,145
    Retained earnings 2,370,025
    Total $2,708,600

    How many shares are outstanding?
    At what average price were the shares sold?

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    Solution Summary

    The solution explains how to calculate the number of shares outstanding and the average price at which the shares were sold