Reference no: EM132544404
Sunland Inc. is publicly traded and uses a calendar year for financial reporting. The company is authorized to issue 10 million common shares. At no time has Sunland issued any potentially dilutive securities. The following is a summary of Sunland's common share activities:
Number of common shares issued and outstanding at December 31, 2018 6,550,000
Shares issued as a result of a 10% stock dividend on September 30, 2019 655,000
Shares issued for cash on March 31, 2020 2,000,000
Number of common shares issued and outstanding at December 31, 2020 9,205,000
Sunland issued its 2020 financial statements on February 28, 2021. A 2-for-1 stock split of Sunland's common shares occurred on March 31, 2021.
Question 1: Calculate the weighted average number of common shares to use in calculating earnings per common share for 2019 on the 2019 comparative income statement.
Question 2: Calculate the weighted average number of common shares to use in calculating earnings per common share for 2019 on the 2020 comparative income statement.
Question 3: Calculate the weighted average number of common shares to use in calculating earnings per common share for 2020 on the 2020 comparative income statement.
Question 4: Calculate the weighted average number of common shares to use in calculating earnings per common share for 2020 on the 2021 comparative income statement.
Question 5: Calculate the weighted average number of common shares to use in calculating earnings per common share for 2021 on the 2021 comparative income statement.
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