Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Wildhorse 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

Wildhorse 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 Wildhorse issued any potentially dilutive securities. The following is a summary of Wildhorse's common share activities: Number of common shares issued and outstanding at December 31, 2018 Shares issued as a result of a 5% stock dividend on September 30, 2019 Shares issued for cash on March 31, 2020 Number of common shares issued and outstanding at December 31, 2020 Weighted average number of common shares Wildhorse issued its 2020 financial statements on February 28, 2021. A 3-for-1 stock split of Wildhorse's common shares occurred on March 31, 2021. eTextbook and Media 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: 6,540,000 327,000 eTextbook and Media 2,270,000 9,137,000 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 eTextbook and Media 6867000 shares Calculate the weighted average number of common shares to use in calculating earnings per common share for 2020 on the 2020 comparative income statement. 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

Accounting Information Systems A Practictioner Emphasis

Authors: Cynthia D. Heagy, Constance M. Lehmann

10th Edition

1891002821, 9781891002823

More Books

Students also viewed these Accounting questions