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Calculate the weighted average number of common shares

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Question - Sheridan Inc. has 371,000 common shares outstanding throughout the year. On June 30, Sheridan issued 15,300 convertible preferred shares that are convertible into 2 common shares each.

Calculate the weighted average number of common shares to use in calculating the diluted EPS. Assume that the preferred shares are dilutive.

Reference no: EM133032119

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