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Sheridan Corporation, a publicly traded company, is preparing the comparative financial statements to be included in the annual report to shareholders. Sheridan's fiscal year ends
Sheridan Corporation, a publicly traded company, is preparing the comparative financial statements to be included in the annual
report to shareholders. Sheridan's fiscal year ends May The following information is available.
Income from operations before income tax for Sheridan was $ and $ respectively, for the fiscal years
ended May and
Sheridan experienced a loss from discontinued operations of $ from a business segment disposed of on March
A combined income tax rate applies to all of Sheridan's profits, gains, and losses.
Sheridan's capital structure consists of preferred shares and common shares. The company has not issued any convertible
securities or warrants and there are no outstanding stock options.
Sheridan issued $ par value, cumulative preferred shares in All of these shares are outstanding, and no
preferred dividends are in arrears.
There were million common shares outstanding on June On September Sheridan sold an additional
common shares at $ per share. Sheridan distributed a stock dividend on the common shares outstanding on
December
These were the only common share transactions during the past two fiscal years.
a
Determine the weighted average number of common shares that would be used in calculating earnings per share on the current
comparative income statement for:
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