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Part 1 Barrios Inc. is publicly traded and uses a calendar year for financial reporting. The company is authorized to issue 50 million common
Part 1 Barrios 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 Barrios issued any potentially dilutive securities. The following is a summary of Barrios' common share activities: Number of common shares issued and outstanding at December 31, 2019 6,180,000 . Shares issued for cash on April 1, 2020 2,660,000 On September 30, 2020, Barrios issued a 10% stock dividend Repurchased and cancelled on November 15, 2020 1,700,000 Calculate the weighted average number of common shares to use in calculating earnings per common share. (8 marks)
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