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Newton Inc. uses a calendar year for financial reporting. Listed below is a summary of Newton's common stock activities. At no time has Newton issued
Newton Inc. uses a calendar year for financial reporting. Listed below is a summary of Newton's common stock activities. At no time has Newton issued any potentially dilutive securities. Newton has 5,000,000 authorized shares of $1 par value common stock. a) On December 31, 2018 there were 2,000,000 shares outstanding. b) On September 30, 2019, Newton declared a 10% stock dividend. c) On August 30, 2020 Newton issued 600,000 shares for cash. What is the weighted average number of common shares outstanding for 2020? Round your answer to the nearest whole number. Dot not use dollar signs($) or commas(,). AJ
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