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Solve the weighted average number for monty corporation

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Reference no: EM132760974

Monty Corporation began its latest fiscal year on January 1, 2021, with 480,000 common shares outstanding. During the year, the following events occurred:

  • On February 1, Monty sold 16,400 additional common shares
  • The company declared and issued a 25% stock dividend on March 1.
  • On June 1, Monty repurchased and cancelled 4,100 common shares.
  • An additional 4,600 common shares were issued on July 1.
  • On September 1, Monty declared and issued a three-for-one stock split.
  • On December 1, Monty issued an additional 15,900 shares.
  • Following the fiscal year, Monty 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 Monty should use for calculating its EPS numbers for 2021.

Reference no: EM132760974

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