e information provided to calculate the weighted average number of common shares outstanding for 2020 diluted earnings per share purposes. • 24,000 common shares outstanding on January 1, 2020. • 10,000 convertible preferred shares outstanding on January 1, 2020. Each preferred share can be converted to 12 common shares. • 12,000 common shares issued on March 1, 2020 • 5,000 preferred shares were converted to common shares on May 31, 2020. • 18,000 common shares were issued o
Use the information provided to calculate the weighted average number of common shares outstanding for 2020 diluted earnings per share purposes.
• 24,000 common shares outstanding on January 1, 2020.
• 10,000 convertible preferred shares outstanding on January 1, 2020. Each
• 12,000 common shares issued on March 1, 2020
• 5,000 preferred shares were converted to common shares on May 31, 2020.
• 18,000 common shares were issued on September 1, 2020.
• A 1: 2 reverse split took place on November 15, 2020.
• 6,000 portfolio shares were purchased on December 1, 2020.
• 51,000 shares outstanding as of December 31, 2020.
* Explain in Full detail.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
