The following data is available for Pina Colada Corp. at December 31, 2017:

Common stock, par $10 (authorized 28000 shares) $196000

Treasury stock (at cost $15 per share) $900

Based on the data, how many shares of common stock are outstanding?

No of common stock outstanding

= Total value of common stock issued

Par value per share

= $196,000

$10

= 19,600 shares

Explanation:

In this case, we will divide the total value of common stock issued by the par value per share so as to obtain the number of common stock outstanding.