Question
Bramble Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,210,000 shares of $12 par common stock. At no time
Bramble Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,210,000 shares of $12 par common stock. At no time has Bramble issued any potentially dilutive securities. Listed below is a summary of Brambles common stock activities. 1. Number of common shares issued and outstanding at December 31, 2015 1,890,000 2. Shares issued as a result of a 12% stock dividend on September 30, 2016 226,800 3. Shares issued for cash on March 31, 2017 2,100,000 Number of common shares issued and outstanding at December 31, 2017 4,216,800 4. A 2-for-1 stock split of Brambles common stock took place on March 31, 2018.
Compute the weighted-average number of common shares used in computing earnings per common share for 2016 on the 2017 comparative income statement.
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