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Flounder 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

Flounder 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 Flounder issued any potentially dilutive securities. Listed below is a summary of Flounders common stock activities.

1.

Number of common shares issued and outstanding at December 31, 2018

2,000,000

2.

Shares issued as a result of a 10% stock dividend on September 30, 2019

200,000

3.

Shares issued for cash on March 31, 2020

1,940,000

Number of common shares issued and outstanding at December 31, 2020

4,140,000

4.

A 2-for-1 stock split of Flounders common stock took place on March 31, 2021

  1. Compute the weighted-average number of common shares used in computing earnings per common share for 2019 on the 2020 comparative income statement.

  1. Compute the weighted-average number of common shares used in computing earnings per common share for 2020 on the 2020 comparative income statement.

  1. 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.

  1. Compute the weighted-average number of common shares to be used in computing earnings per common share for 2021 on the 2021 comparative income statement.

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