Reference no: EM133150066
Question - Weighted Average Shares - At the beginning of 2019, Hardin Company had 240,000 shares of $10 par common stock outstanding. During the year, it engaged in the following transactions related to its common stock:
March 1 Issued 47,000 shares of stock at $21 per share.
June 1 Issued a 15% stock dividend.
July 1 Issued 15,000 shares of stock at $26 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 85,000 shares as treasury stock at a cost of $29 per share.
Nov. 30 Reissued 59,000 treasury shares at a price of $32 per share.
Required -
1. Determine the weighted average number of shares outstanding for computing the current earnings per share.
2. Determine the number of common shares outstanding at December 31, 2019.
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