Question

Following are income statement data for Mylin Corporation for the company’s most recent fiscal year:
At the beginning of the year, Mylin had 252,000 shares of common stock outstanding. On February 1, Mylin sold an additional 48,000 shares of common stock. On October 1, Mylin sold an additional 60,000 shares of common stock. On December 1, Mylin bought 12,000 shares of common stock to hold as treasury stock; thus, these shares are no longer outstanding and will not participate in earnings per share calculations after this date.
Required:
(a) Compute the weighted-average number of shares of common stock that Mylin had outstanding during the year.
(b) Compute and clearly label the earnings per share figures for Mylin’s income statement.


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  • CreatedMarch 27, 2015
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