Question
a. Compute the weighted-average number of common shares used in computing earnings per common share for 2019 on the 2020 comparative income statement. b. Compute
a. Compute the weighted-average number of common shares used in computing earnings per common share for 2019 on the 2020 comparative income statement. b. Compute the weighted-average number of common shares used in computing earnings per common share for 2020 on the 2020 comparative income statement.
c. Compute the weighted-average number of common shares to be used in computing earnings per common share for 2020 on the 2021 comparative income statement.
d. Compute the weighted-average number of common shares to be used in computing earnings per common share for 2021 on the 2021 comparative income statement.
Cullumber Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,320,000 shares of $12 par common stock. At no time has Cullumber issued any potentially dilutive securities. Listed below is a summary of Cullumber's common stock activities. 1. 2. 3. Number of common shares issued and outstanding at December 31, 2018 Shares issued as a result of a 12% stock dividend on September 30, 2019 Shares issued for cash on March 31, 2020 Number of common shares issued and outstanding at December 31, 2020 A 2-for-1 stock split of Cullumber's common stock took place on March 31, 2021 2,140,000 256,800 2,030,000 4,426,800 4Step by Step Solution
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