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Pina Ltd. began its latest fiscal year on January 1, 2020, with 10,000 common shares outstanding....

Pina Ltd. began its latest fiscal year on January 1, 2020, with 10,000 common shares outstanding. On April 1, Pina sold 3,900 additional common shares. The company declared and issued a 20% stock dividend on June 1. On July 1, Pina repurchased and cancelled 170 common shares. An additional 3,750 common shares were issued on September 1. On November 1, Pina declared and issued a 2-for-one stock split. On December 1, Pina issued an additional 100 shares. Following the fiscal year, Pina declared and issued a 3-for-one stock split on February 1, 2021. The company issued its 2020 financial statements on March 10, 2021.

Calculate the weighted average number of common shares that Pina should use for calculating its EPS numbers for 2020.

Weighted average number of common shares Enter your answer in accordance to the question statement shares
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Answer #1
Weighted average share
Jan 1 10000*1.2*2*3/12 6000
Apr 1 13900*1.2*2*2/12 5560
June 1 16680*2*1/12 2780
July 1 16510*2*2/12 5503
Sep 1 20260*2*2/12 6753
Nov 1 40520*2/12 6753
Total 33350

Weighted average number of common shares = 33350 Shares

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