On December 31, 2022, Blossom Corporation had 142,800 common shares outstanding. On April 30, 2023, the company issued an additional 51,400 common shares for cash. On July 31, 2023, the company repurchased and cancelled 19,000 common shares. During the year ended December 31, 2023, Blossom earned income before taxes of $40,000,000. Not included in this income was a loss from discontinued operations of $5,000,000 before tax. The company was subject to a 25% income tax rate. (a) Your answer is incorrect. Calculate the weighted average number of common shares outstanding. Weighted Average Number of Common Shares eTextbook and Media Save for Later Last saved 8 minutes ago. Saved work will be auto-submitted on the due date. Auto- submission can take up to 10 minutes. Attempts: 2 of 5 used Submit Answer

On December 31, 2022, Blossom Corporation had 142,800 common shares outstanding. On April 30, 2023, the company issued an additional 51,400 common shares for cash. On July 31, 2023, the company repurchased and cancelled 19,000 common shares. During the year ended December 31, 2023, Blossom earned income before taxes of $40,000,000. Not included in this income was a loss from discontinued operations of $5,000,000 before tax. The company was subject to a 25% income tax rate. (a) Your answer is incorrect. Calculate the weighted average number of common shares outstanding. Weighted Average Number of Common Shares eTextbook and Media Save for Later Last saved 8 minutes ago. Saved work will be auto-submitted on the due date. Auto- submission can take up to 10 minutes. Attempts: 2 of 5 used Submit Answer

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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E14.7
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