Question
Oriole Inc. is publicly traded and uses a calendar year for financial reporting. The company is authorized to issue 50 million common shares. At no
Oriole Inc. is publicly traded and uses a calendar year for financial reporting. The company is authorized to issue 50 million common shares. At no time has Oriole issued any potentially dilutive securities. The following is a summary of Orioles common share activities:
Number of common shares issued and outstanding at December 31, 2018 | 6,620,000 | ||
Shares issued as a result of a 5% stock dividend on September 30, 2019 | 331,000 | ||
Shares issued for cash on March 31, 2020 | 2,730,000 | ||
Number of common shares issued and outstanding at December 31, 2020 | 9,681,000 |
Oriole issued its 2020 financial statements on February 28, 2021. A 3for1 stock split of Orioles common shares occurred on March 31, 2021.
1.Calculate the weighted average number of common shares to use in calculating earnings per common share for 2019 on the 2019 comparative income statement.
2.Calculate the weighted average number of common shares to use in calculating earnings per common share for 2019 on the 2020 comparative income statement.
3.Calculate the weighted average number of common shares to use in calculating earnings per common share for 2020 on the 2020 comparative income statement.
4.Calculate the weighted average number of common shares to use in calculating earnings per common share for 2020 on the 2021 comparative income statement.
5.Calculate the weighted average number of common shares to use in calculating earnings per common share for 2021 on the 2021 comparative income statement.
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