Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sheridan Inc. is publicly traded and uses a calendar year for financial reporting. The company is authorized to issue 50 million common shares. At no

image text in transcribed

image text in transcribed

image text in transcribed

Sheridan Inc. is publicly traded and uses a calendar year for financial reporting. The company is authorized to issue 50 million common shares. At no time has Sheridan issued any potentially dilutive securities. The following is a summary of Sheridan's common share activities: Number of common shares issued and outstanding at December 31, 2018 6,890,000 Shares issued as a result of a 10% stock dividend on September 30, 2019 689,000 Shares issued for cash on March 31, 2020 2,270,000 Number of common shares issued and outstanding at December 31, 2020 9,849,000 Sheridan issued its 2020 financial statements on February 28, 2021. A 3-for-1 stock split of Sheridan's common shares occurred on March 31, 2021. Your answer is incorrect. Calculate the weighted average number of common shares to use in calculating earnings per common share for 2019 on the 2019 comparative income statement. Weighted average number of common shares shares Calculate the weighted average number of common shares to use in calculating earnings per common share for 2019 on the 2020 comparative income statement. Weighted average number of common shares: shares eTextbook and Media X Your answer is incorrect. Calculate the weighted average number of common shares to use in calculating earnings per common share for 2020 on the 2020 comparative income statement. Weighted average number of common shares shares Calculate the weighted average number of common shares to use in calculating earnings per common share for 2020 on the 2021 comparative income statement. Weighted average number of common shares shares e Textbook and Media * Your answer is incorrect. Calculate the weighted average number of common shares to use in calculating earnings per common share for 2021 on the 2021 comparative income statement. Weighted average number of common shares shares

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing The Master A Tax Collector Report

Authors: B. Cobbey Crisler

1st Edition

1912297108, 978-1912297108

More Books

Students also viewed these Accounting questions