Question
PearlCorporation began its latest fiscal year on January 1, 2021, with510,000common shares outstanding. During the year, the following events occurred: On February 1,Pearlsold14,600additional common shares.The
PearlCorporation began its latest fiscal year on January 1, 2021, with510,000common shares outstanding. During the year, the following events occurred:
On February 1,Pearlsold14,600additional common shares.The company declared and issued a 25% stock dividend on March 1.On June 1,Pearlrepurchased and cancelled3,650common shares.An additional5,500common shares were issued on July 1.On September 1,Pearldeclared and issued a three-for-one stock split.On December 1,Pearlissued an additional15,600shares.Following the fiscal year,Pearldeclared and issued a two-for-one stock split on February 1, 2022.
The company issued its 2021 financial statements on April 30, 2022. Calculate the weighted average number of common shares thatPearlshould use for calculating its EPS numbers for 2021.
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