Answered step by step
Verified Expert Solution
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. | 1,800,000 | |
c. | 1,900,000 | |
d. | 1,860,000 | |
e. | 880,000 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
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