Question
Colon Co. uses a calendar year for financial reporting. The company is authorized to issue 5 million shares of $10 par common stock. At no
Colon Co. uses a calendar year for financial reporting. The company is authorized to issue 5 million shares of $10 par common stock. At no time has Colon issued any potentially dilutive securities. A two-for-one stock split of Colons common stock took place on March 31, Year 4. Additional information is in the next column. |
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Question
The weighted-average number of common shares used in computing basic earnings per common share for Year 2 on the Year 3 comparative income statement was
A.1,000,000
B.1,050,000
C.1,100,000
D.1,025,000
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