Question

Mason Manufacturing had 600,000 shares of common stock outstanding and 150,000 shares of $100 par value preferred stock outstanding January 1, 2014. An additional 120,000 shares of common stock were issued on August 1 and 24,000 common shares were repurchased and retired on December 1. Mason’s preferred stock is not convertible into common shares.

Required:
Calculate the weighted-average number of common shares outstanding for purposes of computing Mason’s 2014 basic earnings per share.



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  • CreatedSeptember 10, 2014
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