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Sheridan Limited had 42,000 common shares outstanding on January 1, 2020. On March 1, 2020, Sheridan issued 20,100 shares in exchange for equipment. On July 1, Sheridan repurchased and cancelled 10,500 shares. On October 1, 2020, Sheridan declared and issued a 11% stock dividend.
Question 1: Calculate the weighted average number of shares outstanding for Sheridan for the year ended December 31, 2020
Adhere to APA formatting guidelines when writing your response. Additionally, your response should be free of grammatical errors, use complete sentences, and give specific details to support statements made.
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