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Problem 16-06 (Part Level Submission) Marin Corporation is preparing the comparative financial statements for the annual repoDetermine the weighted average number of shares that Marin Corporation would use in calculating earnings per share for the fi

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Answer #1

May 31, 2020

Date Shares outstanding Restatement Fraction Weighted shares
Jun 1 - Sep 30 957000 1.2 4/12 382800
Oct 1 - Dec 31 1462000 1.2 3/12 438600
Jan 1 - May 31 1754400 1 5/12 731000
Total 1552400

May 31, 2021

Date Shares outstanding Restatement Fraction Weighted shares
Jun 1 - Nov 30 1754400 1 6/12 877200
Dec 1 - May 31 2578400 1 6/12 1289200
Total 2166400
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