Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Crane Inc. is publicly traded and uses a calendar year for financial reporting. The company is authorized to issue 10 million common shares. At no

image text in transcribedimage text in transcribedimage text in transcribed

Crane Inc. is publicly traded and uses a calendar year for financial reporting. The company is authorized to issue 10 million common shares. At no time has Crane issued any potentially dilutive securities. The following is a summary of Crane's common share activities: Number of common shares issued and outstanding at December 31, 2018 Shares issued as a result of a 5% stock dividend on September 30, 2019 Shares issued for cash on March 31, 2020 Number of common shares issued and outstanding at December 31, 2020 6,500,000 325,000 2,480,000 9,305,000 Crane issued its 2020 financial statements on February 28, 2021. A 2-for-1 stock split of Crane's common shares occurred on March 31, 2021 Calculate the weighted average number of common shares to use in calculating earnings per common share for 2019 on the 2019 comparative income statement. shares Weighted average number of common shares eTextbook and Media Calculate the weighted average number of common shares to use in calculating earnings per common share for 2019 on the 2020 comparative income statement. Weighted average number of common shares: shares eTextbook and Media Calculate the weighted average number of common shares to use in calculating earnings per common share for 2020 on the 2020 comparative income statement. Weighted average number of common shares shares eTextbook and Media Calculate the weighted average number of common shares to use in calculating earnings per common share for 2020 on the 2021 comparative income statement Weighted average number of common shares shares e Textbook and Media Calculate the weighted average number of common shares to use in calculating earnings per common share for 2021 on the 2021 comparative income statement. Weighted average number of common shares shares e Textbook and Media

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

More Books

Students also viewed these Accounting questions

Question

What are the attributes of a technical decision?

Answered: 1 week ago

Question

How do the two components of this theory work together?

Answered: 1 week ago