Question
MarinCorporation began its latest fiscal year on January 1, 2021, with470,000common shares outstanding. During the year, the following events occurred: On February 1,Marinsold 14,800 additional
MarinCorporation began its latest fiscal year on January 1, 2021, with470,000common shares outstanding. During the year, the following events occurred:
On February 1,Marinsold 14,800 additional common shares.
The company declared and issued a 25% stock dividend on March 1.
On June 1,Marinrepurchased and cancelled 3,700 common shares.
An additional 4,700 common shares were issued on July 1.
On September 1,Marindeclared and issued a three-for-one stock split.
On December 1,Marinissued an additional 13,500 shares.
Following the fiscal year,Marindeclared and issued a two-for-one stock split on February 1, 2022.
The company issued its 2021 financial statements on April 30, 2022. Calculate the weighted average number of common shares thatMarinshould use for calculating its EPS numbers for 2021.
Calculate the Weighted average number of common shares
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