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Find the weighted-average number of shares outstanding

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Reference no: EM132450314

Problem - Pharoah Corporation had 297,000 shares of common stock outstanding on January 1, 2017. On May 1, Pharoah issued 32,400 shares.

Required -

(1) Find the weighted-average number of shares outstanding if the 32,400 shares were issued for cash.

(2) Find the weighted-average number of shares outstanding if the 32,400 shares were issued in a stock dividend.

Reference no: EM132450314

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