Question
View Policies Current Attempt in Progress Sunland Inc. is publicly traded and uses a calendar year for financial reporting. The company is authorized to
View Policies Current Attempt in Progress Sunland 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 Sunland issued any potentially dilutive securities. The following is a summary of Sunland's common share activities: Number of common shares issued and outstanding at December 31, 2018 Shares issued as a result of a 10% stock dividend on September 30, 2019 Shares issued for cash on March 31, 2020 6,550,000 655,000 2,000,000 Number of common shares issued and outstanding at December 31, 2020 9,205,000 Sunland issued its 2020 financial statements on February 28, 2021. A 2-for-1 stock split of Sunland's common shares occurred on March 31, 2021. 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 eTextbook and Media MacBook Pro shares
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started