Mini Exercises 10 Goodwill Q14 Struggling to determine number of shares

Hi,

Can anyone advise on how you determine the total number of shares in S for this question (I have copied and pasted the question below for reference)? I have had a look at the solution, and it seems to display the number of shares in the calculation, but I cannot see it anywhere in the question or any clear way of determining the amount from the information provided.

I am probably missing something completely obvious!

Thanks in advance,
Matt

Q14.
On 1 April, 2013, P acquired 75% of the equity share capital of S. S had been experiencing di?cult trading conditions and making signi?cant losses. In allowing for S’s di?culties, P made an immediate cash payment of only $1·50 per share. In addition, P will pay a further amount in cash on 30 September, 2014 if S returns to pro?tability by that date. The value of this contingent consideration at the date of acquisition was estimated to be $1·8 million, but at 30 September, 2013 in the light of continuing losses, its value was estimated at only $1·5 million. The contingent consideration has not been recorded by P. Overall, the directors of P expect the acquisition to be a bargain purchase leading to negative goodwill. At the date of acquisition shares in S had a listed market price of $1·20 each. At the date of acquisition, the fair values of S’s assets were equal to exception of a leased property. This had a fair value of $2 million above its carrying amount and a remaining lease term of 10 years at that date. All depreciation is included in cost of sales P’s policy is to value the non-controlling interest at fair value at the date of acquisition. For this purpose, S’s share price at that date can be deemed to be representative of the fair value of the shares held by the non-controlling interest.