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What is the firm weighted-average number of common shares

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Question - Nikola Motors had 900,000 common shares and 10,000 preferred shares outstanding at the beginning of 2020. On April 30, 2020, it issued 90,000 shares as part of the consideration for the purchase of assets from subsidiary. On May 30, 2020, it declared and executed a 2-by-1 stock split. On October 1, 2020, it reacquired 80,000 shares as treasury stock. What is the firm's weighted-average number of common shares outstanding for the year?

a. 1,860,000

b. 1,014,000

c. 1,900,000

d. 1,800,000

e. 880,000

Reference no: EM132799940

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