Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Current Attempt in Progress Marigold Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,320,000 shares of $12 par common
Current Attempt in Progress Marigold Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,320,000 shares of $12 par common stock. At no time has Marigold issued any potentially dilutive securities. Listed below is a summary of Marigold's common stock activities. 1. Number of common shares issued and outstanding at December 31, 2018 2. Shares issued as a result of a 12% stock dividend on September 30, 2019 3. Shares issued for cash on March 31, 2020 Number of common shares issued and outstanding at December 31, 2020 4. A2-for-1 stock split of Marigold's common stock took place on March 31, 2021 2,140,000 256,800 2,030,000 4,426,800 x Your answer is incorrect. Compute the weighted average number of common shares used in computing earnings per common share for 2019 on the 2020 comparative income statement. 2204200 shares X Your answer is incorrect. Compute the weighted average number of common shares used in computing earnings per common share for 2020 on the 2020 comparative income statement. 3726700 shares eTextbook and Media x Your answer is incorrect. Compute the weighted average number of common shares to be used in computing earnings per common share for 2020 on the 2021 comparative income statement. 7453400 shares
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started