Culver Inc. uses a calendar year for financial reporting. The company is authorized to issue...

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Accounting

Culver Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,790,000 shares of $10 par common stock. At no time has Culver issued any potentially dilutive securities. Listed below is a summary of Culvers common stock activities.

1. Number of common shares issued and outstanding at December 31, 2018

2,200,000

2. Shares issued as a result of a 10% stock dividend on September 30, 2019

220,000

3. Shares issued for cash on March 31, 2020

2,090,000

Number of common shares issued and outstanding at December 31, 2020

4,510,000

4. A 2-for-1 stock split of Culvers common stock took place on March 31, 2021

1. Compute the weighted-average number of common shares used in computing earnings per common share for 2019 on the 2020 comparative income statement.

2. Compute the weighted-average number of common shares used in computing earnings per common share for 2020 on the 2020 comparative income statement.

3. Compute the weighted-average number of common shares to be used in computing earnings per common share for 2020 on the 2021 comparative income statement.

4. Compute the weighted-average number of common shares to be used in computing earnings per common share for 2021 on the 2021 comparative income statement.

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