Question
Ivanhoe Inc. uses a calendar year for financial reporting. The company is authorized to issue 9,840,000 shares of $12 par common stock. At no time
Ivanhoe Inc. uses a calendar year for financial reporting. The company is authorized to issue 9,840,000 shares of $12 par common stock. At no time has Ivanhoe issued any potentially dilutive securities. Listed below is a summary of Ivanhoes common stock activities.
1. | Number of common shares issued and outstanding at December 31, 2018 | 2,090,000 | ||
2. | Shares issued as a result of a 12% stock dividend on September 30, 2019 | 250,800 | ||
3. | Shares issued for cash on March 31, 2020 | 1,940,000 | ||
Number of common shares issued and outstanding at December 31, 2020 | 4,280,800 | |||
4. | A 2-for-1 stock split of Ivanhoes common stock took place on March 31, 2021 |
a) Compute the weighted-average number of common shares used in computing earnings per common share for 2013 on the 2014 comparative income statement
b) Compute the weighted-average number of common shares used in computing earnings per common share for 2014 on the 2014 comparative income statement
c) Compute the weighted-average number of common shares to be used in computing earnings per common share for 2014 on the 2015 comparative income statement.
d) Compute the weighted-average number of common shares to be used in computing earnings per common share for 2015 on the 2015 comparative income statement.
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