Dblue Company had 5,000,000 ordinary shares authorized and 3,000,000 shares outstanding at January 1, 2003. The following events occurred during 2003: Jan 31 - Declared 20% stock dividend June 30 - Purchased 500,000 shares Aug 1 - Reissued 100,000 shares Nov 30 - Declared 2-for-1 stock split   On December 31, 2003, how many ordinary shares are outstanding?

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Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.