Montana Company was authorized to issue 85,000 shares of common stock.The company had issued 30,000 shares of stock when it purchased 4,500 shares of treasury stock.The number of outstanding shares of common stock was:.........Stockholders' Equity is an item on the balance sheet composed normally of common stock, preferred stock and retained earnings account. It is the excess of total assets over total liabilities for the period.The number of outstanding shares of common stock is computed as follows:Number of shares issued 30,000 sharesLess: Treasury stock 4,500 sharesOutstanding shares 25,500 shares