Charlotte Engineering experienced net income of $450,000 for the year. It declared $30,000 in preferred...
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Charlotte Engineering experienced net income of $450,000 for the year. It declared $30,000 in preferred dividends on December 23. It began the year with 100,000 common shares outstanding. On July 1, Charlotte declared a 10% common stock dividend. Compute the weighted-average common shares outstanding for the year.
A. 100,000
B. 120,000
C. 90,000
D. 110,000
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