Shamrock inc uses a calendar year for financial reporting, Ask an Expert

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Shamrock Inc. uses a calendar year for financial reporting. The company is authorized to issue 9,000,000 shares of $12 par common stock. At no time has Shamrock issued any potentially dilutive securities. Listed below is a summary of Shamrock's common stock activities.1. Number of common shares issued and outstanding at December 31, 2015
2,160,000

2. Shares issued as a result of a 12% stock dividend on September 30, 2016
259,200

3. Shares issued for cash on March 31, 2017
2,190,000

Number of common shares issued and outstanding at December 31, 2017
4,609,200

4. A 2-for-1 stock split of Shamrock's common stock took place on March 31, 2018

Compute the weighted-average number of common shares used in computing earnings per common share for 2016 on the 2017 comparative income statement.

Compute the weighted-average number of common shares used in computing earnings per common share for 2017 on the 2017 comparative income statement.

Compute the weighted-average number of common shares to be used in computing earnings per common share for 2017 on the 2018 comparative income statement.

Compute the weighted-average number of common shares to be used in computing earnings per common share for 2018 on the 2018 comparative income statement.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92640310

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