1. Determine the weighted average number of shares outstanding for computing the current earnings per share. Round your interim computations and final answer for the number of shares to the nearest whole number. fill in the blank 2 shares 2. Determine the number of common shares outstanding at December 31, 2019. fill in the blank 3 shares
1. Determine the weighted average number of shares outstanding for computing the current earnings per share. Round your interim computations and final answer for the number of shares to the nearest whole number. fill in the blank 2 shares 2. Determine the number of common shares outstanding at December 31, 2019. fill in the blank 3 shares
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Weighted Average Shares
At the beginning of 2019, Hardin Company had 370,000 shares of $10 par common stock outstanding. During the year, it engaged in the following transactions related to its common stock:
| March | 1 | Issued 46,000 shares of stock at $25 per share. |
| June | 1 | Issued a 20% stock dividend. |
| July | 1 | Issued 9,000 shares of stock at $30 per share. |
| Aug. | 31 | Issued a 2-for-1 stock split on outstanding shares, reducing the par value to $5 per share. |
| Oct. | 31 | Reacquired 89,000 shares as |
| Nov. | 30 | Reissued 49,000 treasury shares at a price of $36 per share. |
This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.
Required:
1. Determine the weighted average number of shares outstanding for computing the current earnings per share. Round your interim computations and final answer for the number of shares to the nearest whole number.fill in the blank 2 shares
2. Determine the number of common shares outstanding at December 31, 2019.
fill in the blank 3 shares
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