Question

The stockholders’ equity section of Flounder Corp.’s balance sheet at December 31 is presented here.

Answer 1

Answer:

The quantity of shares of common stock that are outstanding are 2,939,400.

Explanation:

Acording to the data, we have the following:

Shares issued= 2,945,000

Shares issued and outstanding = 5,600

To calculate the quantity of shares of common stock that are outstanding we have to use the following formula:

Outstanding shares = Shares issued-Shares issued and outstanding

Therefore, Outstanding shares= 2,945,000-5,600

                                                  = 2,939,400