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Cullumber Inc. is publicly traded and uses a calendar year for financial reporting. The company is authorized to issue 50 million common shares. At
Cullumber Inc. is publicly traded and uses a calendar year for financial reporting. The company is authorized to issue 50 million common shares. At no time has Cullumber issued any potentially dilutive securities. The following is a summary of Cullumber's common share activities: Number of common shares issued and outstanding at December 31, 2018 6,970,000 Shares issued as a result of a 10% stock dividend on September 30, 2019 Shares issued for cash on March 31, 2020 697,000 2,300,000 Number of common shares issued and outstanding at December 31, 2020 9,967,000 Cullumber issued its 2020 financial statements on February 28, 2021. A 2-for-1 stock split of Cullumber'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.
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