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please show calculations and explanations for each question. ge Number of Shares) Newton Inc. uses a calendar year for financial reporting. The 9,000,000 shares of
please show calculations and explanations for each question.
ge Number of Shares) Newton Inc. uses a calendar year for financial reporting. The 9,000,000 shares of $10 par common stock. At no time has Newton issued any potentially dilutive E16-15 (L04) EXCEL (Weighted-Avera company is authorized to issue company is authorizedto ssue 9,000,000 shares of S10 par common stock. At no time has Newton iss securities. Listed below is a summary of Newton's common stock activities. 1. Number of common shares issued and oustanding at December 31, 2015 2. Shares issued as a result of a 10% stock dividend on September 30, 2016 3. Shares issued for cash on March 31, 2017 2,000,000 200,000 2,000,000 4,200,000 Number of common shares issued and outstanding at December 31, 2017 4. A 2-for-1 stock split of Newton's common stock took place on March 31, 2018 Instructions (a) Compute the weighted-average number of common shares used in computing earnings per common share for 2016 on the 2017 comparative income statement. the 2017 comparative income statement 2017 on the 2018 comparative income statement. 2018 on the 2018 comparative income statement. (b) Compute the weighted-average number of common shares used in computing earnings per common share for 2017 on (d) Compute the weighted-average number of common shares to be used in computing earnings per common share forStep by Step Solution
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