Question
Novak Ltd. began its latest fiscal year on January 1, 2020, with 12,000 common shares outstanding. On April 1, Novak sold 3,300 additional common shares.
Novak Ltd. began its latest fiscal year on January 1, 2020, with 12,000 common shares outstanding. On April 1, Novak sold 3,300 additional common shares. The company declared and issued a 20% stock dividend on June 1. On July 1, Novak repurchased and cancelled 220 common shares. An additional 3,750 common shares were issued on September 1. On November 1, Novak declared and issued a 2-for-one stock split. On December 1, Novak issued an additional 120 shares. Following the fiscal year, Novak declared and issued a 3-for-one stock split on February 1, 2021. The company issued its 2020 financial statements on March 10, 2021. Calculate the weighted average number of common shares that Novak should use for calculating its EPS numbers for 2020.
Weighted average number of common shares | Enter your answer in accordance to the question statement shares |
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