Compute the weighted-average number of shares outstanding for Steadman Company, which has a simple capital structure, assuming that the following transactions in common stock occurred during the calendaryear.

Transcribed Image Text:

Number of Shares $10 Par Value Date Transactions in Common Stock Jan. I Feb. 1 May I Aug 1 Sept 1 Nov. I Shares outstanding Issued for cash Acquired treasury stock 20% stock dividend Resold part of treasury stock shares Issued 2-for-I stock split 76,000 48,000 (20,000) 20% of shares outstanding 5,000