Libby, Inc. has 1,000,000 shares of $4 Par Common stock authorized. Libby shows a total...
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Accounting
Libby, Inc. has 1,000,000 shares of $4 Par Common stock authorized. Libby shows a total of $660,000 in its Common Stock account and $1,600,000 in its Additional Paid-in Capital account. How many shares of Libby stock have been issued?
(A) 165,000
(B) 565,000
(C) 400,000
(D) The number of shares cannot be determined using the information provided.
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