Select financial data for Ewing Oil Inc. is provided in the table below. Ewing Oil repurchased $4.75B worth of shares during the year at an average price of $25. How many shares are outstanding at the end of the year? Ewing Oil Inc.
Selected Financial Information
$$\begin{array} { | l | c | }
\hline \text { Shares outstanding at beginning of Year } & 1.86 \mathrm {~B} \
\hline \text { Price at beginning of Year } & \$ 25 \
\hline \text { Value of company beginning of Fiscal } & 46.5 \mathrm {~B} \
\hline
\end{array}$$

Question

Select financial data for Ewing Oil Inc. is provided in the table below. Ewing Oil repurchased $4.75B worth of shares during the year at an average price of $25. How many shares are outstanding at the end of the year? Ewing Oil Inc.
Selected Financial Information
$$\begin{array} { | l | c | } 
\hline \text { Shares outstanding at beginning of Year } & 1.86 \mathrm {~B} \
\hline \text { Price at beginning of Year } & \$ 25 \
\hline \text { Value of company beginning of Fiscal } & 46.5 \mathrm {~B} \
\hline
\end{array}$$

Quizplus · Accepted Answer

The correct answer is A.The number of shares outstanding at the end of the year can be calculated as follows:Shares outstanding at end of year = Shares outstanding at beginning of year - Shares repurchasedShares outstanding at end of year = 1.86B - (4.75B / 25)Shares outstanding at end of year = 1.86B - 0.19BShares outstanding at end of year = 1.67B

Select Financial Data for Ewing Oil Inc A)167B B)1

Select Financial Data for Ewing Oil Inc A)167B
B)1