Determine the weighted-average number of common shares

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During 2011, Arthur Corporation reported a net income of $3,059,000. On January 1, Arthur had 2,800,000 shares of common stock outstanding. The company issued an additional 1,680,000 shares of common stock on October 1. In 2011, the company had a simple capital structure. During 2012, there were no transactions involving common stock, and the company reported net income of $4,032,000.

1. Determine the weighted-average number of common shares outstanding each year.

2. Compute earnings per share for each year.

Reference no: EM13823875

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