Your answer is correct. CALCULATOR PRINTER VERSION BACK Identify whether the capital structure at Marin Corporation is a simple or complex capital structure Simple Capital Structure SHOW SOLUTION LINK TO TEXT Attempts: 1 of 5 used (b) Determine the weighted average number of shares Collapse question part would use in calculating earnings per share for the fiscal year ended: Weighted average number of shares (1) May 31, 2020 (2) May 31, 2021 LINK TO TEXT Attempts of used MLAR SET AWE (6) The parts of this question must be completed in order. This part will be available when you come the part above 25 20 8 Kieso, Intermediate Accounting, 17e Help System Announcements CALCULATOR PRINTER VERSION KAGE NEXT Problem 16-06 (Part Level Submission) Marin Corporation is preparing the comparative financial statements for the annual report to its shareholders for fiscal years ended May 31, 2020, and May 31, 2021. The Income from operations for the fiscal year ended May 31, 2020, was $1,719,000 and income from continuing operations for the fiscal year ended May 31, 2021, was $2,610,000. In both years, the company incurred a 10% interest expense on $2,335,000 of debt, an obligation that requires interest-only payments for 5 years. The company experienced a loss from discontinued operations of $610,000 on February 2021. The company uses a 20% effective tax rate for income taxes The capital structure of Marin Corporation on June 1, 2019, consisted of 1,006,000 shares of common stock outstanding and 19,000 shares of $50 parvatur, oh, cumulative preferred stock. There were no preferred dividends in arrears, and the company had not issued any convertible securities, options, or warranty. On October 1, 2019, Marin sold an additional 508,000 shares of the common stock at $20 per share. Marin distributed a 204 stock dividend on the common shares outstanding on January 1, 2020. On December 1, 2020, Marin was able to sell an additional 767,000 shares of the common stock at $22 per share. These were the only common stock transactions that occurred during the two fiscal years. (a) Your answer is correct. Identify whether the capital structure at Marin Corpchation is a simple or complex capital structure, Simple Capital Structure SHOW SOLUTION LINK TO TEXT Attempts: 1 of 5 sed (b) Determine the weighted average number of shares that Marin Corporation would use in calculating earningspersare for the facerent Weighted average number of shares (1) May 31, 2020