Reference no: EM132724703

Question - Using the information provided, calculate the weighted average number of common shares outstanding for 2020.

The common shares of a company were 120,000 on January 1, 2020.

On February 1, the company issued 60,000 additional shares.

Another 48,000 were issued on March 1.

On April 1, the company issued 24,000 new shares.

On May 1, the company bought 36,000 portfolio shares.

Purchased another 36,000 portfolio shares on June 1.

On July 1, declared a 20% dividend in shares.

On August 1, it issued 75,000 new shares.

On August 15, it carried out a 1.50: 1 share split.

On September 1, it issued another 18,000 shares.

On December 1, it acquired 6,000 portfolio shares.

Required - Calculate the weighted average number of common shares outstanding for 2020.