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On January 1, 2019, Fitbit goes public and issues 50 million shares at $20 per...

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Accounting

  • On January 1, 2019, Fitbit goes public and issues 50 million shares at $20 per share.
  • Fitbit had 200 million shares prior to going public and the book value of the common stock & additional paid in capital was $500 million.
  • On January 1, 2020, Fitbit shares are trading at $45 per share and, for the first time ever, Fitbit buys back 20 million shares.

What is the January 1, 2020 balance of common stock & APIC?

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