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Nash Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,370,000 shares of $12 par common stock. At no time has Nash issued any potentially dilutive securities. Listed below is a summary of Nash’s common stock activities. 1. Number of common shares issued and outstanding at December 31, 2018 1,990,000 2. Shares issued as a result of a 12% stock dividend on September 30, 2019 238,800 3. Shares issued for cash on March 31, 2020 2,000,000 Number of common

Nash Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,370,000 shares of $12 par common stock. At no time has Nash issued any potentially dilutive securities. Listed below is a summary of Nash’s common stock activities. 1. Number of common shares issued and outstanding at December 31, 2018 1,990,000 2. Shares issued as a result of a 12% stock dividend on September 30, 2019 238,800 3. Shares issued for cash on March 31, 2020 2,000,000 Number of common

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
Problem 56CE
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Nash Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,370,000 shares of $12 par common stock. At no time has Nash issued any potentially dilutive securities. Listed below is a summary of Nash’s common stock activities.

1.   Number of common shares issued and outstanding at December 31, 2018  
1,990,000
2.   Shares issued as a result of a 12% stock dividend on September 30, 2019  
238,800
3.   Shares issued for cash on March 31, 2020  
2,000,000
    Number of common shares issued and outstanding at December 31, 2020  
4,228,800
4.   A 2-for-1 stock split of Nash’s common stock took place on March 31, 2021
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. shares
Transcribed Image Text: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. shares
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