On December 31, 2022, Oriole Corporation had 144,000 common shares outstanding. On April 30, 2023, the company issued an additional 52,200 common shares for cash. On July 31, 2023, the company repurchased and cancelled 21,000 common shares. During the year ended December 31, 2023, Oriole 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) X Your answer is incorrect. Calculate the weighted average number of common shares outstanding. Weighted Average Number of Common Shares 156150
On December 31, 2022, Oriole Corporation had 144,000 common shares outstanding. On April 30, 2023, the company issued an additional 52,200 common shares for cash. On July 31, 2023, the company repurchased and cancelled 21,000 common shares. During the year ended December 31, 2023, Oriole 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) X Your answer is incorrect. Calculate the weighted average number of common shares outstanding. Weighted Average Number of Common Shares 156150
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter13: Earnings Per Share (eps)
Section: Chapter Questions
Problem 2R: Ponce Towers, Inc., had 50,000 shares of common stock and 10,000 shares of 100 par value, 8%...
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![On December 31, 2022, Oriole Corporation had 144,000 common shares outstanding. On April 30, 2023, the company issued an
additional 52,200 common shares for cash. On July 31, 2023, the company repurchased and cancelled 21,000 common shares.
During the year ended December 31, 2023, Oriole 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)
X Your answer is incorrect.
Calculate the weighted average number of common shares outstanding.
Weighted Average Number of Common Shares
156150](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7c0ef7e3-d8ec-4ceb-a693-25abc04f060b%2F8f4806e1-9bf5-4cf5-830f-21bad2026743%2Fucdrx9n_processed.jpeg&w=3840&q=75)
Transcribed Image Text:On December 31, 2022, Oriole Corporation had 144,000 common shares outstanding. On April 30, 2023, the company issued an
additional 52,200 common shares for cash. On July 31, 2023, the company repurchased and cancelled 21,000 common shares.
During the year ended December 31, 2023, Oriole 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)
X Your answer is incorrect.
Calculate the weighted average number of common shares outstanding.
Weighted Average Number of Common Shares
156150
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