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notsponge [240]
3 years ago
13

On January 1, 2018, Warren Corporation had 950,000 shares of common stock outstanding. On March 1, the corporation issued 150,00

0 new shares to raise additional capital. On July 1, the corporation declared and issued a 2-for-1 stock split. On October 1, the corporation purchased on the market 450,000 of its own outstanding shares and retired them.
Required:
Compute the weighted average number of shares to be used in computing earnings per share for 2018.
Business
1 answer:
lisov135 [29]3 years ago
8 0

Answer:

1,670,833.33 stocks

Explanation:

date             stock inc./dec.      total stocks        months       stocks

Jan. 1                     0                   950,000            2 x 2           3,800,000

March 1            150,000             1,100,000          4 x 2            4,400,000

July 1              1,100,000            2,200,000            3              6,600,000

October 1       -450,000             1,750,000            3               5,250,000

total                                                                                        20,050,000

weighted average stocks = 20,050,000 / 12 months = 1,670,833.33

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