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Calculate the weighted average number of common shares

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Question - Pearl Corporation began its latest fiscal year on January 1, 2021, with 510,000 common shares outstanding. During the year, the following events occurred:

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

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

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

An additional 5,500 common shares were issued on July 1.

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

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

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

Reference no: EM132798338

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