Homework Answers
1) Calculate weighted average share outstanding
| Date | Share outstanding | Weighted average share outstanding | |
| Jan 1 | 780000 | 780000*1.12*4*1/12 | 291200 |
| Feb 1 | 960000 | 960000*1.12*4*1/12 | 358400 |
| Mar 1 | 960000*1.12 = 1075200 | 1075200*4*2/12 | 716800 |
| May 1 | 975200 | 975200*4*1/12 | 325067 |
| June 1 | 975200*4 = 3900800 | 3900800*4/12 | 1300267 |
| Oct 1 | 3960800 | 3960800*3/12 | 990200 |
| Total | 3981934 |
Earning per share = (5500000-400000)/3981934 = 1.28 per share
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