Gogean inc uses a calendar year for financial reporting the

Reference no: EM13587100

Gogean Inc. uses a calendar year for financial reporting. The company is authorized to issue 9,000,000 shares of $10 par common stock. At no time has Gogean issued any potentially dilutive securities. Listed below is a summary of Gogean's common stock activities.

1. Number of common shares issued and outstanding at December 31, 2011 2,400,000
2. Shares issued as a result of a 10% stock dividend on September 30, 2012 240,000
3. Shares issued for cash on March 31, 2013

2,000,000
Number of common shares issued and outstanding at December31, 2013

4,640,000
4. A 2-for-1 stock split of Gogean's common stock took place on March 31, 2014

(a) Compute the weighted average number of common shares used in computing earnings per common share for 2012 on the 2013 comparative income statement.

(b) Compute the weighted average number of common shares used in computing earnings per common share for 2013 on the 2013 comparative income statement.

(c) Compute the weighted average number of common shares to be used in computing earnings per common share for 2013 on the 2014 comparative income statement.

(d) Compute the weighted average number of common shares to be used in computing earnings per common share for 2014 on the 2014 comparative income statement.

Reference no: EM13587100

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