Horton Industries’ shareholders’ equity included 300 million shares of $1 par common stock and a balance in paid-in capital—exce
ss of par of $3,000 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 6 million shares at $9.50 per share? (Enter your answer in millions (i.e., 10,000,000 should be entered as 10).)
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 6 million shares at $9.50 per share? (Enter your answer in millions (i.e., 10,000,000 should be entered as 10).)
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