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On January 1, 2020, Mack Corp had 275,000 Common Shares outstanding. During 2020 it has the following transactions that affected the common shares account.
On January 1, 2020, Mack Corp had 275,000 Common Shares outstanding. During 2020 it has the following transactions that affected the common shares account. Time left 1:52:04 Mar 1 Declared and Issued 20% stock dividend May 1 Issued 50,000 shares Jun 1 Acquired 40,000 common shares and retired them Sep 1 Issued a 2-for-1 stock split Nov. 1 Issued 20,000 shares Mack Corp issued 20,000 $9, cumulative preferred shares on Jan 1, 2020. Its net income for 2020 was $1,450,000. No dividend was declared and paid since 2019. Please answer the following questions. 1. Number of common shares outstanding on Mar 2, 2020: 2. Number of common shares outstanding after share repurchase on Jun 1, 2020: 340,000 3. Number of common shares outstanding after share split on Sep 1, 2020: 680,000 4. Number of common shares outstanding on Dec 31, 2020: 700,000 = 6. Weighted Average number of Common Shares (WACS) for 2020: 7. Basic Earnings Per Share (EPS) for 2020 is:
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