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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text: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
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