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Calculate the weighted average number of common shares

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Reference no: EM132793137

Question - Concord Corporation began its latest fiscal year on January 1, 2021, with 490,000 common shares outstanding. During the year, the following events occurred:

On February 1, Concord sold 14,600 additional common shares.

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

On June 1, Concord repurchased and cancelled 3,650 common shares.

An additional 4,800 common shares were issued on July 1.

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

On December 1, Concord issued an additional 15,600 shares.

Following the fiscal year, Concord 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 Concord should use for calculating its EPS numbers for 2021.

Reference no: EM132793137

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