Computing Weighted-Average Common Shares On January 1, Case Inc. had 540,000 shares of common stock...
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Computing Weighted-Average Common Shares On January 1, Case Inc. had 540,000 shares of common stock issued and outstanding. Case issued a 10% stock dividend on July 1. On October 1, Case purchased 43,200 shares of its common stock for the treasury. What is the number of shares that should be used in computing basic earnings per share for the year ended December 31?
| Retroactive | |||||
|---|---|---|---|---|---|
| Actual | Restatement for | Equivalent | Weighted | ||
| Shares | Stock Dividend | Shares | Months | Avg. Shares | |
| Inclusive Dates | Outstanding | or Stock Split | Outstanding | Outstanding | Outstanding |
| January - June | Answer | Answer | Answer | Answer | Answer |
| July - September | Answer | Answer | Answer | Answer | Answer |
| October - December | Answer | Answer | Answer | Answer | Answer |
| Answer |
The number of shares for the basic EPS calculation is Answer.
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