Computer Applications Co. began the year with $200,000 shares of common stock and $30,000 shares of...

 

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Computer Applications Co. began the year with $200,000 shares of common stock and $30,000 shares of 7%, $100 par value, cumulative, non-convertible preferred stock. On March 1, it declared a 5% stock dividend on common shares. On June 30, it purchased 10,000 shares of treasury stock. On October 1, Computer declared a 2 for 1 stock split. Net income for the year was $650,000. Compute the number of common shares outstanding for the year. Multiple Choice O O O O 200.000 205,000 400,000 405,000 410,000 Computer Applications Co. began the year with $200,000 shares of common stock and $30,000 shares of 7%, $100 par value, cumulative, non-convertible preferred stock. On March 1, it declared a 5% stock dividend on common shares. On June 30, it purchased 10,000 shares of treasury stock. On October 1, Computer declared a 2 for 1 stock split. Net income for the year was $650,000. Compute the number of common shares outstanding for the year. Multiple Choice O O O O 200.000 205,000 400,000 405,000 410,000

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