Question
Riverbed Inc. uses a calendar year for financial reporting. The company is authorized to issue 9,160,000 shares of $12 par common stock. At no time
Riverbed Inc. uses a calendar year for financial reporting. The company is authorized to issue 9,160,000 shares of $12 par common stock. At no time has Riverbed issued any potentially dilutive securities. Listed below is a summary of Riverbeds common stock activities.
1. | Number of common shares issued and outstanding at December 31, 2018 | 2,130,000 | ||
2. | Shares issued as a result of a 12% stock dividend on September 30, 2019 | 255,600 | ||
3. | Shares issued for cash on March 31, 2020 | 1,840,000 | ||
Number of common shares issued and outstanding at December 31, 2020 | 4,225,600 | |||
4. | A 2-for-1 stock split of Riverbeds common stock took place on March 31, 2021 |
(a)
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Compute the weighted-average number of common shares used in computing earnings per common share for 2019 on the 2020 comparative income statement.
| shares |
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