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Newton Inc. uses a calendar year for financial reporting. The company is authorized to issue 9,053,000 shares of $10 par common stock. At no time has Newton issued any potentially dilutive securities. Listed below is a summary of Newton’s common stock activities.
1. Number of common shares issued and outstanding at December 31, 2012
2,413,000
2. Shares issued as a result of a 10% stock dividend on September 30, 2013
241,300
3. Shares issued for cash on March 31, 2014
2,136,000
Number of common shares issued and outstanding at December 31, 2014
4,790,300
4. A 2-for-1 stock split of Newton’s common stock took place on March 31, 2015
Compute the weighted-average number of common shares used in computing earnings per common share for 2013 on the 2014 comparative income statement
Compute the weighted-average number of common shares used in computing earnings per common share for 2014 on the 2014 comparative income statement
Compute the weighted-average number of common shares to be used in computing earnings per common share for 2014 on the 2015 comparative income statement.
Compute the weighted-average number of common shares to be used in computing earnings per common share for 2015 on the 2015 comparative income statement.
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Newton Inc. uses a calendar year for financial reporting. The company is authorized to issue 9,053,0...
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