Question
Marin Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,420,000 shares of $12 par common stock. At no time
Marin Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,420,000 shares of $12 par common stock. At no time has Marin issued any potentially dilutive securities. Listed below is a summary of Marins common stock activities.
1. | Number of common shares issued and outstanding at December 31, 2018 | 2,010,000 | ||
2. | Shares issued as a result of a 12% stock dividend on September 30, 2019 | 241,200 | ||
3. | Shares issued for cash on March 31, 2020 | 2,060,000 | ||
Number of common shares issued and outstanding at December 31, 2020 | 4,311,200 | |||
4. | A 2-for-1 stock split of Marins 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 2019 on the 2020 comparative income statement.
(b) The parts of this question must be completed in order. This part will be available when you complete the part above.
(c) The parts of this question must be completed in order. This part will be available when you complete the part above.
(d) The parts of this question must be completed in order. This part will be available when you complete the part above.
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