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Explain where did 660000 and 1980000 come from. Weighted Average shares outstanding Problem - On January 1, 2021 Wilke Corp had 480,000 shares of common
Explain where did 660000 and 1980000 come from.
Weighted Average shares outstanding Problem - On January 1, 2021 Wilke Corp had 480,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the common stock account: - February 1st Issued 120,000 shares - March 1 st issued a 10% stock dividend - August 1 st Issued a 3 for 1 stock split a) Determine weighted average number of shares outstanding as of December 31, 2021 b) Assume that Wilke Corp. earned net income of $3,456,000 during 2021 , In addition, it had 100,000 shares of 9%,$100 par nonconvertible, noncumulative preferred stock outstanding for the entire year. However, the company did not declare and pay a preferred dividend in 2021. Compute eps for 2021 , using the weighted average number of shared from part (a) c) Assume same facts as part b) but the preferred stock was cumulative. Compute eps for 2021 d) Assume same facts as part b), except that net income included a loss from discontinued operations of $432,000 (net of tax). Create the eps section of the income statement. Date1/12/12/13/13/18/18/112/31Share4800006000006600001980000Restatement1.1031.1033Fractionofyear1/121/125/125/12Weightedshares132000165000825000825000Step by Step Solution
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