Homework Answers
Jan to Mar (3 months) = 50,000 X 3/12 = 12,500
Apr to Jun (3 months) = (50,000 + 6,000) X 3/12 = 14,000
Jul to Oct (4 months) = (56,000 + 25%) X 4/12 = 23,333
Nov to Dec (2 months) = (70,000 + 1,000) X 2/12 = 11,833
Weighted average shares outstanding = 12,500 + 14,000 + 23,333 + 11,833 = 61,667 (approximately)
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