Beck corp. issued 200,000 shares of common stock when it began operations in year 1 and issued an additional 100,000 shares in year 2. beck also issued preferred stock convertible to 100,000 shares of common stock. in year 3, beck purchased 75,000 shares of its common stock and held it in treasury. at the end of year 3, how many shares of beck’s common stock were outstanding?

Garrett is an executive vice president at samm hardware. he researches a proposal by a larger company, maximum hardware, to combine the two companies. by analyzing past performance, conducting focus groups, and interviewing maximum employees, garrett concludes that maximum has poor profit margins, sells shoddy merchandise, and treats customers poorly. what actions should garrett and samm hardware take? a. turn down the acquisition offer and prepare to resist a hostile takeover. b. attempt a friendly merger and use managerial hubris to improve results at maximum. c. welcome the acquisition and use knowledge transfer to impart sam hardware's management practices. d. do nothing; the two companies cannot combine without samm hardware's explicit consent.