Question

On its 2017 balance sheet, Walgreens Boot Alliance, Inc., reports treasury stock at cost of $4,934 million. The company has a total of 1,172,513,618 shares issued and 1,082,986,591 shares outstanding. What average price did Walgreens pay for treasury shares?

Answer 1

Answer:

$57.02 Average price per share in treasury Stock

Explanation:

Treasury Stock in dollars 4,934M

$\frac{Treasury \: Stock_{dollars}}{Treasury \: Stock_{shares}} \\Where:\\issued - outstanding = Treasury \: Stock_{shares}$

1,172,513,618 - 1,082,986,591 = 89,527,027 TS in shares

4,934,000,000/89,527,027 = 57.02264565

$57.02 Average price per share in treasury Stock