Computing Weighted-Average Number of Common Shares Outstanding with a Stock Split. Thomas Company began the year with 150,000 common shares outstanding. The firm issued an additional 75,000 shares on May 1 and 15,000 shares on November 1. In addition, Thomas implemented a 2-for-1 stock split on July 1. The firm’s year-end is December 31. Determine the weighted-average number of common shares outstanding for the year.
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