Ewing Oil repurchased $5.10B worth of shares during the year at an average price of $30. Cliff Barnes owned 0.15B shares in Ewing prior to the repurchase. Cliff decided not to sell any shares during the repurchase. What was Cliff's proportionate ownership in Ewing following the repurchase? Ewing Oil Inc.
Selected Financial Information
$$\begin{array} { | l | c | }
\hline \text { Shares outstanding at beginning of Year } & 1.78 \mathrm {~B} \
\hline \text { Price at beginning of Year } & \$ 30 \
\hline \text { Value of company beginning of Fiscal } & 53.4 \mathrm {~B} \
\hline
\end{array}$$

Question

Ewing Oil repurchased $5.10B worth of shares during the year at an average price of $30. Cliff Barnes owned 0.15B shares in Ewing prior to the repurchase. Cliff decided not to sell any shares during the repurchase. What was Cliff's proportionate ownership in Ewing following the repurchase? Ewing Oil Inc.
Selected Financial Information
$$\begin{array} { | l | c | } 
\hline \text { Shares outstanding at beginning of Year } & 1.78 \mathrm {~B} \
\hline \text { Price at beginning of Year } & \$ 30 \
\hline \text { Value of company beginning of Fiscal } & 53.4 \mathrm {~B} \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of Ewing Oil repurchased $5.10B worth of shares during the year at an average price of $30. Cliff Barnes owned 0.15B shares in Ewing prior to the repurchase. Cliff decided not to sell any shares during the repurchase. What was Cliff's proportionate ownership in Ewing following the repurchase? Ewing Oil Inc.
Selected Financial Information
$$\begin{array} { | l | c | } 
\hline \text { Shares outstanding at beginning of Year } & 1.78 \mathrm {~B} \
\hline \text { Price at beginning of Year } & \$ 30 \
\hline \text { Value of company beginning of Fiscal } & 53.4 \mathrm {~B} \
\hline
\end{array}$$

Ewing Oil Repurchased $5 A)843% B)9

Ewing Oil Repurchased $5 A)843%
B)9