On January 1st, 2021, Bayshore Boats, Inc. had 60,000 shares of common stock outstanding. On March 1st the corporation issued 10,000 additional common shares to raise cash. On May 1st, the corporation declared and issued a 8% stock dividend. On September 1st, the corporation issued 12,000 shares of common stock. On December 31st, the corporation issued a 2:1 stock split. Instructions: Compute the weighted average number of shares to be used in computing earnings per share for 2021. Show all your detailed computations in a well-organized schedule.

Questions:

1. I don't know why the Dividend is 800, my calculation is (60,000+10,000) x 8%=5,600

2. Why the Expert Answer: https://www.chegg.com/homework-help/questions-and-answers/january-1-st-2021-bayshore-boats-inc-60-000-shares-common-stock-outstanding-march-1-st-cor-q109034935?trackid=6a78859604e9&strackid=c4fd23b5f2bb step 1 above, shares on Dec-31 is 180,000? mine is 175,200: [60,000 + 10,000 + 5,600 (8% dividend) + 12,000] x 2 = 175,200