Brief Exercise 16-11

Bridgeport Corporation had 291,000 shares of common stock outstanding on January 1, 2017. On May 1, Bridgeport issued 29,400 shares. (a) Compute the weighted-average number of shares outstanding if the 29,400 shares were issued for cash. Weighted-average number of shares outstanding $ (b) Compute the weighted-average number of shares outstanding if the 29,400 shares were issued in a stock dividend. Weighted-average number of shares outstanding $