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20) Using the following data, calculate weighted average common shares outstanding for Year 7. (5 points) As of Jan 1, Year 7, there were 30,000
20) Using the following data, calculate weighted average common shares outstanding for Year 7. (5 points) As of Jan 1, Year 7, there were 30,000 shares of its $10-par common stock outstanding On March 1, issued 2,000 shares of its $50-par preferred stock. On April 1, issued 10,000 additional shares of its $10-par common stock. On May 1, paid a $100,000 cash dividend on all its shares of stock. On July 1, repurchased 5,000 shares of its $10-par common stock. On August 1, declared a 2:1 stock split on all shares of its $10-par common stock. On October 1, reissued 3,000 of previously repurchased shares. On December 31, reported net income of $700,000. Weighted average common shares outstanding (You may use the grid to figure the numbers.)
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