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Determine the number of common shares outstanding

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Reference no: EM132889715

Problem - Weighted Average Shares At the beginning of 2019, Hardin Company had 220,000 shares of $10 par common stock outstanding. During the year, it engaged in the following transactions related to its common stock:

Mar. 1 Issued 45,000 shares of stock at $22 per share

June 1 Issued a 15% stock dividend.

July 1 Issued 10,000 shares of stock at $27 per share.

Aug. 31 Issued a 2-for-1 stock split on outstanding shares, reducing the par value to $5 per share.

Oct. 31 Reacquired 95,000 shares as treasury stock at a cost of $30 per share.

Nov. 30 Reissued 45,000 treasury shares at a price of $33 per share.

Required - Determine the following:

1. weighted average number of shares outstanding for computing the current earnings per share

2. number of common shares outstanding at December 31, 2019.

Reference no: EM132889715

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