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Calculate the weighted-average number of common shares

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Problem 1: Weighted-average shares outstanding and earnings per share LO3 CHECK FIGURE: Weighted-average outstanding shares = 118,900 Fitz Products Inc. reported $1,075,049 profit in 2020 and declared preferred dividends of $75,100. The following changes in common shares outstanding occurred during the year. Jan. 1 78,000 common shares were outstanding. Mar. 1 Declared and issued a 30% common share dividend. Aug. 1 Sold 30,000 common shares. Nov. 1 Sold 30,000 common shares. Calculate the weighted-average number of common shares outstanding during the year and earnings per share. Round calculations to two decimal places. Analysis Component: What is the effect of a share dividend on earnings per share?

Reference no: EM132735869

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