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Exercise 16-15 Skysong Inc. uses a calendar year for financial reporting. The company is authorized to issue 9,680,000 shares of $10 par common stock. At
Exercise 16-15 Skysong Inc. uses a calendar year for financial reporting. The company is authorized to issue 9,680,000 shares of $10 par common stock. At no time has Skysong issued any potentially dilutive securities. Listed below is a summary of Skysong's common stock activities. 1. Number of common shares issued and outstanding at 2000,000 December 31, 2015 Shares issued as a result of a 10% stock dividend on September 30, 2016 2. 200,000 3. Shares issued for cash on March 31, 2017 1,940,000 Number of common shares issued and outstanding at 4110,000 December 31, 2017 4 A 2-for-1 stock split of Skysong'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 Compute the weighted-average number of common shares used in computing earnings per common share for 2017 on the 2017 comparative income statement. LINK TO TEX Compute the weighted-average number of common shares to be used in computing earnings per common share for 2017 on the 2018 comparative income statement. shares Compute the weighted-average number of common shares to be used in computing earnings per common share for 2018 on the 2018 comparative income statement. shares
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