Questions #2 Weighted Average Number of Shares Outstanding

Mangey Corp. had the following activity related to its common shares for the year ending December 31, 2020.

Shares outstanding, Jan 1 150,000

Shares issued, Mar 1 10,000

2-for-1 stock split, Apr 1 160,000

Shares issued, Jul 1 20,000

Shares repurchased, Oct 1 (50,000)

Shares issued, Dec 31* 10,000

Net Income $ 476,000

In addition, the company issued 3,000, $ 2, cumulative preferred shares for $ 300,000, however,

dividends were not declared during 2020.