At January 1, 2023, Elan Corporation had 300.000 common shares outstanding (no preferred issued). On March 1, the corporation issued 45,000 new shares to raise additional capital. On July 1, the corporation declared and issued a 2 for 1 stock split. On October 1, the corporation purchased on the open market 180,000 of its own shares at $35 each and retired them. Instructions Calculate the weighted average number of common shares outstanding to be used in calculating earnings per share for 2023 Increase (Decrease) Shares Outstanding Portion of Year Outstanding Stock Split a 1
At January 1, 2023, Elan Corporation had 300.000 common shares outstanding (no preferred issued). On March 1, the corporation issued 45,000 new shares to raise additional capital. On July 1, the corporation declared and issued a 2 for 1 stock split. On October 1, the corporation purchased on the open market 180,000 of its own shares at $35 each and retired them. Instructions Calculate the weighted average number of common shares outstanding to be used in calculating earnings per share for 2023 Increase (Decrease) Shares Outstanding Portion of Year Outstanding Stock Split a 1
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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Transcribed Image Text:At January 1, 2023, Elan Corporation had 300.000 common shares outstanding (no preferred issued). Un March 1, the corporation issued 45,000 new shares to
raise additional capital. On July 1, the corporation declared and issued a 2 for 1 stock split. On October 1, the corporation purchased on the open market 180,000
of its own shares at $35 each and retired them.
Instructions
Calculate the weighted average number of common shares outstanding to be used in calculating earnings per share for 2023.
Increase (Decrease)
Shares Outstanding
Portion of Year Outstanding
Stock Split
J
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1
M
1
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1
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1
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