1,000,000 shares of $2 par common stock authorized and 400,000 shares issued and outstanding. The following occurred during 2022: • March 1: Issued 200,000 new shares of common stock at $8 per share. • April 1: Declared and distributed a 10% stock dividend when the market value is $10 per share
On January 1, 2022, Hendrick Corporation had 1,000,000 shares of $2 par common stock authorized and
400,000 shares issued and outstanding. The following occurred during 2022:
• March 1: Issued 200,000 new shares of common stock at $8 per share.
• April 1: Declared and distributed a 10% stock dividend when the market value is $10 per share.
• May 1: Purchased on the market 10,000 of its own outstanding shares as
per share.
• July 1: Reissued the 10,000 treasury shares at $16.
• August 1: Declared and distributed a 50% stock dividend.
• October 1: Issued 200,000 new shares of common stock at $10 per share.
• November 1: Declared and issued a 4-for-1 stock split.
• December 1: Issued 200,000 new shares of common stock at $5 per share
Required: Compute the weighted average number of shares to be used in computing earnings per share for
2022. CLEARLY show all calculations!
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