Reference no: EM132912199
Question - Buffalo 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, Buffalo sold 14,400 additional common shares.
The company declared and issued a 25% stock dividend on March 1.
On June 1, Buffalo repurchased and cancelled 3,600 common shares.
An additional 5,300 common shares were issued on July 1.
On September 1, Buffalo declared and issued a three-for-one stock split.
On December 1, Buffalo issued an additional 16,500 shares.
Following the fiscal year, Buffalo 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 Buffalo should use for calculating its EPS numbers for 2021.
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