Calculate the weighted average number of shares for 2022

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Reference no: EM133372204

Question 1) Wendy Inc. had 50,000 common shares on January 1, 2022. On May 1, 15,000 shares were issued. On June 1, 7,500 shares were repurchased. Calculate the weighted average number of shares for 2022.

Question 2) Adam Inc. has approved a formal plan to sell its division, which generates its own cash flows and represents a major line of business. A detailed plan has been approved by the board of directors and a buyer was confirmed. The division only has one asset on the books at $21 million. The estimated selling price if $18 million. The division has operating loss of $4.2 million (net of tax or $1.05 million) in the year. The company has reported Net income of $6.1 million and tax rate of 20% for the year. What is the income for continuing operations for the year?

Reference no: EM133372204

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