Business, 22.05.2020 21:07, carrottopsadly
Sunland Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,810,000 shares of $12 par common stock. At no time has Sunland issued any potentially dilutive securities. Listed below is a summary of Sunland’s common stock activities.
1. Number of common shares issued and outstanding at December 31, 2018 1,850,000
2. Shares issued as a result of a 12% stock dividend on September 30, 2019 222,000
3. Shares issued for cash on March 31, 2020 2,180,000
Number of common shares issued and outstanding at December 31, 2020 4,252,000
4. A 2-for-1 stock split of Sunland’s common stock took place on March 31, 2021
(a) Compute the weighted-average number of common shares used in computing earnings per common share for 2019 on the 2020 comparative income statement.
(b) Compute the weighted-average number of common shares used in computing earnings per common share for 2020 on the 2020 comparative income statement.
(c) 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.
(d) 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.
Answers: 2
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Sunland Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,810,...
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