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On January 1, 2021, Bridgeport Corp. had 502,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock
On January 1, 2021, Bridgeport Corp. had 502,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account.
| February 1 | Issued 125,000 shares | |
| March 1 | Issued a 10% stock dividend | |
| May 1 | Acquired 97,000 shares of treasury stock | |
| June 1 | Issued a 3-for-1 stock split | |
| October 1 | Reissued 62,000 shares of treasury stock |
a. Determine the weighted-average number of shares outstanding as of December 31, 2021.
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