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Find and solve the weighted average number of common shares

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Bridgeport Corporation began its latest fiscal year on January 1, 2021, with 550,000 common shares outstanding. During the year, the following events occurred:

  1. On February 1, Bridgeport sold 14,200 additional common shares.
  2. The company declared and issued a 25% stock dividend on March 1.
  3. On June 1, Bridgeport repurchased and cancelled 3,550 common shares.
  4. An additional 5,100 common shares were issued on July 1.
  5. On September 1, Bridgeport declared and issued a three-for-one stock split.
  6. On December 1, Bridgeport issued an additional 16,200 shares.
  7. Following the fiscal year, Bridgeport declared and issued a two-for-one stock split on February 1, 2022.

Problem 1: The company issued its 2021 financial statements on April 30, 2022. Calculate the weighted average number of common shares that Bridgeport should use for calculating its EPS numbers for 2021

Reference no: EM132755799

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