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Could someone explain how you get these answers? Thanks. Exercise 16-15 Cullumber Inc. uses a calendar year for financial reporting. The company is authorized to
Could someone explain how you get these answers? Thanks.
Exercise 16-15 Cullumber Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,810,000 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. Number of common shares issued and outstanding at December 31, 2015 1,850,000 2. Shares issued as a result of a 12% stock dividend on September 30, 2016 222,000 3. Shares issued for cash on March 31, 2017 2,180,000 4,252,000 Number of common shares issued and outstanding at December 31, 2017 4. A 2-for-1 stock split of Cullumber's 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. shares LINK TO TEXT Compute the weighted average number of common shares used in computing earnings per common share for 2017 on the 2017 comparative income statement. sharesStep by Step Solution
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