Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Nikola Motors had 900,000 common shares and 10,000 preferred shares outstanding at the beginning of 2020. On April 30, 2020, it issued 90,000 shares as

Nikola Motors had 900,000 common shares and 10,000 preferred shares outstanding at the beginning of 2020. On April 30, 2020, it issued 90,000 shares as part of the consideration for the purchase of assets from subsidiary. On May 30, 2020, it declared and executed a 2-by-1 stock split. On October 1, 2020, it reacquired 80,000 shares as treasury stock. What is the firms weighted-average number of common shares outstanding for the year?

a.

1,014,000

b.

880,000

c.

1,800,000

d.

1,900,000

e.

1,860,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Global Business Today

Authors: Charles Hill

7th Edition

0078137217, 9780078137211

More Books

Students also viewed these Finance questions

Question

1. To gain knowledge about the way information is stored in memory.

Answered: 1 week ago