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Author Question: Ewing Oil repurchased $5.10B worth of shares during the year at an average price of $30. Cliff ... (Read 29 times)

Mr. Wonderful

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on: Apr 25, 2021
Ewing Oil repurchased $5.10B worth of shares during the year at an average price of $30. Cliff Barnes owned 0.15B shares in Ewing prior to the repurchase. Cliff decided not to sell any shares during the repurchase. What was Cliff's proportionate ownership in Ewing following the repurchase?

Ewing Oil Inc.
Selected Financial Information
Shares outstanding at beginning of Year1.78B
Price at beginning of Year$30
Value of company beginning of Fiscal53.4B

◦ 8.43%
◦ 9.32%
◦ 10.42%
◦ 11.54%
◦ 12.32%
Corporate Finance Online ¦ Eakins, McNally ¦ 2nd Edition
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Marked as best answer by Mr. Wonderful on Apr 25, 2021

ASDFGJLO

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Reply #1 on: Apr 25, 2021
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Mr. Wonderful

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Reply 2 on: Apr 25, 2021
YES! Correct, THANKS for helping me on my review

kalskdjl1212

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Reply 3 on: Yesterday
Wow, this really help

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