Weighted Average Shares Jumbo Corporation reported the following information about its stock on its December 31,...
Weighted Average Shares
Jumbo Corporation reported the following information about its stock on its December 31, 2018, balance sheet:
| Preferred stock, $100 par value, 6% cumulative, 30,000 shares
authorized 1,000 shares issued and outstanding |
$100,000 |
| Common stock, $10 par value, 150,000 shares authorized 50,000 shares issued and outstanding | 500,000 |
Jumbo Corporation engaged in the following stock transactions during 2019:
| Mar. 1 | Issued 10,000 shares of common stock for cash. |
| Apr. 1 | Purchased 2,000 shares of common stock as treasury stock. |
| Aug. 1 | Resold 1,000 shares of treasury stock. |
| Sept. 1 | Declared and distributed a 50% stock dividend on common stock. |
Required:
2. Calculate the number of shares that Jumbo would use to calculate
basic EPS for its 2019 income statement. Round your answer
to the nearest whole number.
?..... shares
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Weighted Average Shares
Jumbo Corporation reported the following information about its
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(Hint: remember you have already calculayed the # of shares above).
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