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QUESTION

As of December 31, 2016:

As of December 31, 2016:

  • Capital Stock, $1,000,000 ($1 par)
  • Paid-In Capital in Excess of Par Value—Common, $4,000,000
  • Retained Earnings Balance on January 1, 2016, $400,000
  • Retained Earnings Balance on December 31, 2016, $300,000
  • Dividends declared and paid in 2016: $1,100,000

How many shares of stock are issued and outstanding?

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