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Question: Mason Manufacturing had 600,000 shares of common stock outstanding and 150,000 shares of $100 par value preferred stock outstanding January 1, 2014. An additional 120,000 shares of common stock were issued on August 1 and 24,000 common shares were repurchased and retired on December 1. Mason's preferred stock is not convertible into common shares.

Required: Calculate the weighted-average number of common shares outstanding for purposes of computing Mason's 2014 basic earnings per share.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M92600566

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