Following is the stockholders\' equity section from the Abercrombie & Fitch Co.

Question

Following is the stockholders' equity section from the Abercrombie & Fitch Co. balance sheet.

1. How many shares are outstanding at 2016 fiscal year-end?

2. Use the common stock and paid-in capital accounts to determine the average price at which Abercrombie & Fitch issued its common stock. (Round your answer to two decimal places.)

3. Use the treasury stock account to determine the average price Abercrombie & Fitch paid when it repurchased its common shares. (Round your answer to two decimal places.)  

Stockholders' Equity ($ thousands, except par value amounts) January 30, 2016 January 31, 2015 Class A common stock-$0.01 par value: 150,000 shares authorized and 103,300 shares issues at each of January 30, 2016, and January 31, 2015 $1,033 $1,033 Paid-in capital 407,029 434,137 Retained earnings 2,530,196 2,550,673 Accumulated other comprehensive loss, net of tax (114,619) (83,580) Treasury stock at average cost: 35,952 and 33,948
shares at January 30, 2016 and January 31, 2015,
respectively (1,532,576) (1,512,562) Total Abercrombie & Fitch Co. stockholders' equity 1,291,063 1,389,701 Noncontrolling interests 4,659 0 Total shareholders' equity $ 1,295,722 $ 1,389,701

Explanation / Answer

1.

how many shares outstanding at the end of 2016 year end?

issued shares – treasury shares at average cost

103,300-35,952 = $67,348 shares

2. Use the common stock and paid capital accounts to determine the average price at which Abercrombie and fitch issued its common stock.

($1037+407029)/103,300 = $3.95 per share

3. Use the treasury stock account to determine the average price Abercrombie and fitch?

1,532,576/35952 = $42.63 per share

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