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Waterway Inc. uses a calendar year for financial reporting. The company is authorized to issue 9,640,000 shares of $10 par common stock. At no
Waterway Inc. uses a calendar year for financial reporting. The company is authorized to issue 9,640,000 shares of $10 par common stock. At no time has Waterway issued any potentially dilutive securities. Listed below is a summary of Waterway's common stock activities. 1. Number of common shares issued and outstanding at December 31, 2018 2,140,000 2. 3. Shares issued as a result of a 10% stock dividend on September 30, 2019 Shares issued for cash on March 31, 2020 214,000 2,160,000 Number of common shares issued and outstanding at December 31, 2020 4,514,000 4. A 2-for-1 stock split of Waterway's common stock took place on March 31, 2021 Compute the weighted-average number of common shares used in computing earnings per common share for 2019 on the 2020 comparative income statement. shares Compute the weighted-average number of common shares used in computing earnings per common share for 2020 on the 2020 comparative income statement. shares
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