During 2011, Arthur Corporation reported a net income of $3,059,000. On January 1, Arthur had...
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During 2011, Arthur Corporation reported a net income of $3,059,000. On January 1, Arthur had 2,800,000 shares of common stock outstanding. The company issued an additional 1,680,000 shares of common stock on October 1. In 2011, the company had a simple capital structure. During 2012, there were no transactions involving common stock, and the company reported net income of $4,032,000. Determine the weighted-average number of common shares outstanding each year and the earnings per share. This seems like a really basic question yet everytime I enter my answer It's fully marked wrong. 2800000 x 9/12 =2100000 1600000 X 3/12 = 420000 252000 = 2011 Weighted average .. For 2012 there is no common stock so I leave it at 0 3059000/2520000+ 1.21 per share for 2011
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