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Thc. Stockholders' Equity ($ millions) Year Year Common stock, $0.50 par value Authorized-6,500,000,000 shares Issued-3,688,014,021 shares in current and prior year $1,844 $1,844 Other paid-in capital 41,098 41,202 Retained earnings 46,021 39,257 Accumulated other comprehensive loss (4,323) (2,197) 84,640 80,106 Less treasury stock, at cost: 741,052,632 shares in current year and 649,576,808 shares in prior year 36,160 30,482 Total Merck & Co., Inc. stockholders' equity $48,480 $49.624

Thc. Stockholders' Equity ($ millions) Year Year Common stock, $0.50 par value Authorized-6,500,000,000 shares Issued-3,688,014,021 shares in current and prior year $1,844 $1,844 Other paid-in capital 41,098 41,202 Retained earnings 46,021 39,257 Accumulated other comprehensive loss (4,323) (2,197) 84,640 80,106 Less treasury stock, at cost: 741,052,632 shares in current year and 649,576,808 shares in prior year 36,160 30,482 Total Merck & Co., Inc. stockholders' equity $48,480 $49.624

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Merck & Co., Inc. Stockholders' Equity ($ millions) Year CUITOTTE Year Common stock, $0.50 par value Authorized-6,500,000,000 shares Issued-3,688,014,021 shares in current and prior year $1,844 $1,844 Other paid-in capital 41,098 41,202 Retained earnings 46,021 39,257 Accumulated other comprehensive loss (4,323) (2,197) 84,640 80,106 Less treasury stock, at cost: 741,052,632 shares in current year and 649,576,808 shares in prior year 36,160 30,482 Total Merck & Co., Inc. stockholders' equity $48,480 $49,624 a. Explain the derivation of the $1,844 million in the common stock account. Complete the calculation of total amount of shares. Enter share amounts in millions ($3,000,000 = $3). Round share amounts to the nearest whole number. 3,688 ✔million shares X $ 0.5 = 1,844 million b. Using December 31, current year balances, at what average issue price were the Merck common shares issued? Round answer to two decimal places. $ 11.66 X c. At what average cost was the Merck treasury stock as of December 31 of the current year? Round answer to two decimal places.
Transcribed Image Text:Merck & Co., Inc. Stockholders' Equity ($ millions) Year CUITOTTE Year Common stock, $0.50 par value Authorized-6,500,000,000 shares Issued-3,688,014,021 shares in current and prior year $1,844 $1,844 Other paid-in capital 41,098 41,202 Retained earnings 46,021 39,257 Accumulated other comprehensive loss (4,323) (2,197) 84,640 80,106 Less treasury stock, at cost: 741,052,632 shares in current year and 649,576,808 shares in prior year 36,160 30,482 Total Merck & Co., Inc. stockholders' equity $48,480 $49,624 a. Explain the derivation of the $1,844 million in the common stock account. Complete the calculation of total amount of shares. Enter share amounts in millions ($3,000,000 = $3). Round share amounts to the nearest whole number. 3,688 ✔million shares X $ 0.5 = 1,844 million b. Using December 31, current year balances, at what average issue price were the Merck common shares issued? Round answer to two decimal places. $ 11.66 X c. At what average cost was the Merck treasury stock as of December 31 of the current year? Round answer to two decimal places.
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