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Calculate the weighted average number of common shares

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Question - Coronado Corporation began its latest fiscal year on January 1, 2021, with 520,000 common shares outstanding. During the year, the following events occurred:

On February 1, Coronado sold 15,400 additional common shares.

The company declared and issued a 25% stock dividend on March 1.

On June 1, Coronado repurchased and cancelled 3,850 common shares.

An additional 4,700 common shares were issued on July 1.

On September 1, Coronado declared and issued a three-for-one stock split.

On December 1, Coronado issued an additional 14,400 shares.

Following the fiscal year, Coronado declared and issued a two-for-one stock split on February 1, 2022.

The company issued its 2021 financial statements on April 30, 2022. Calculate the weighted average number of common shares that Coronado should use for calculating its EPS numbers for 2021.

Reference no: EM132504590

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