Number 2. Use the information provided to calculate the weighted average of stocks. shares outstanding for 2020 diluted earnings per share purposes.
Number 2. Use the information provided to calculate the weighted average of stocks. shares outstanding for 2020 diluted earnings per share purposes.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 24E
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![Number 2. Use the information provided to calculate the weighted average of stocks.
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 share
preferred can be converted into 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 on September 1, 2020.
-A 1: 2 reverse split was held on November 15, 2020.
. 6,000 portfolio shares were purchased on December 1, 2020.
51,000 shares outstanding as of December 31, 2020.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe072f680-4c73-4386-b4db-def118fea4a2%2F1e77b9e8-d2a2-4921-b927-dbf9f1364279%2Fasafkek_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Number 2. Use the information provided to calculate the weighted average of stocks.
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 share
preferred can be converted into 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 on September 1, 2020.
-A 1: 2 reverse split was held on November 15, 2020.
. 6,000 portfolio shares were purchased on December 1, 2020.
51,000 shares outstanding as of December 31, 2020.
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