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

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Accounting

Monty Inc. uses a calendar year for financial reporting. The company is authorized to issue 9,640,000 shares of $10 par common stock. At no time has Monty issued any potentially dilutive securities. Listed below is a summary of Monty's common stock activities. 1. Number of common shares issued and outstanding at December 31, 2018 2,140,000 2. Shares issued as a result of a 10% stock dividend on September 30, 2019 214,000 3. Shares issued for cash on March 31, 2020 2,160,000 Number of common shares issued and outstanding at December 31, 2020 4,514,000 4. A 2-for-1 stock split of Monty's common stock took place on March 31, 2021 (a) Your answer is correct. Compute the weighted-average number of common shares used in computing earnings per common share for 2019 on the 2020 comparative income statement. (b) 2354000 shares eTextbook and Media Your answer is incorrect. Attempts: 3 of 10 used Compute the weighted-average number of common shares used in computing earnings per common share for 2020 on the 2020 comparative income statement. eTextbook and Media Save for Later | shares Attempts: 3 of 10 used Submit

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