Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Bridgeport Corporation began its latest fiscal year on January 1, 2021, with 550,000 common shares outstanding. During the year, the following events occurred: On February

Bridgeport Corporation began its latest fiscal year on January 1, 2021, with 550,000 common shares outstanding. During the year, the following events occurred:

On February 1, Bridgeport sold 14,200 additional common shares.

The company declared and issued a 25% stock dividend on March 1.

On June 1, Bridgeport repurchased and cancelled 3,550 common shares.

An additional 5,100 common shares were issued on July 1.

On September 1, Bridgeport declared and issued a three-for-one stock split.

On December 1, Bridgeport issued an additional 16,200 shares.

Following the fiscal year, Bridgeport declared and issued a two-for-one stock split on February 1, 2022.

The company issued its 2021 financial statements on April 30, 2022. Calculate the weighted average number of common shares that Bridgeport should use for calculating its EPS numbers for 2021.

Weighted average number of common shares Enter your answer in accordance to the question statement

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting Creating Value in a Dynamic Business Environment

Authors: Ronald Hilton, David Platt

12th edition

1259969517, 1260566390, 978-1260417043

More Books

Students also viewed these Accounting questions

Question

Speak clearly and distinctly with moderate energy

Answered: 1 week ago

Question

Get married, do not wait for me

Answered: 1 week ago

Question

Do not pay him, wait until I come

Answered: 1 week ago