Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

NK had 900,000 common shares and 10,000 preferred shares outstanding at the beginning of 2020. On April 30, 2020, it sold 60,000 shares in a

NK had 900,000 common shares and 10,000 preferred shares outstanding at the beginning of 2020. On April 30, 2020, it sold 60,000 shares in a public offering. 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.

1,800,000

b.

1,014,000

c.

880,000

d.

1,860,000

e.

1,900,000

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

Step: 3

blur-text-image

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

Organizational Behavior Improving Performance And Commitment In The Workplace

Authors: Jason Colquitt

8th Edition

126412435X, 9781264124350

More Books

Students also viewed these Accounting questions

Question

1. What will happen in the future

Answered: 1 week ago

Question

3. Avoid making mistakes when reaching our goals

Answered: 1 week ago