Calculate the weighted average number of common shares

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Question - Schreiber Corporation had 1,267,000 common shares on January 1, 2021.  The following share transactions took place during the 2021 year:

On March 1, 2021, Schreiber Corporation issued 44,300 new common shares to raise funds for expansion.

On July 1, 2021, Schreiber Corporation declared and issued a 2-for-1 stock split on its common shares.

On August 1, 2021, Schreiber Corporation repurchased 23,600 of its common shares at $19 per share and retired them.

On December 1, 2021, Schreiber Corporation declared and issued an 2% stock dividend on its common shares.

Required - Calculate the weighted average number of common shares outstanding for the year ended December 31, 2021.

Reference no: EM133072706

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