Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Maple Corporation's accounting year ends on 31 December. During the three most recent years, its common shares outstanding changed as follows: 2020 2019 2018
Maple Corporation's accounting year ends on 31 December. During the three most recent years, its common shares outstanding changed as follows: 2020 2019 2018 Shares outstanding, 1 January 150,000 120,000 100,000 Shares sold, 1 April 2018 20,000 25% stock dividend, 1 July 2019 30,000 2-for-1 stock split, 1 July 2020 150,000 Shares sold, 1 October 2020 50,000 Shares outstanding, 31 December 350,000 150,000 120,000 Net earnings and comprehensive income $375,000 $330,000 $299,000 Required: 1. For purposes of calculating EPS at the end of each year, for each year independently, determine the weighted-average number of common shares outstanding. 1. For purposes of calculating EPS at the end of each year, for each year independently, determine the weighted-average number of common shares outstanding. Year Weighted Average Number of common shares Outstanding 2018 2019 2020
Step by Step Solution
There are 3 Steps involved in it
Step: 1
1 Weighted average number of common shares outstanding for each year 2018 Shares outs...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