Newton Inc. uses a calendar year for financial reporting. The company is authorized to issue 9,000,000 shares

Question:

Newton Inc. uses a calendar year for financial reporting. The company is authorized to issue 9,000,000 shares of $10 par common stock. At no time has Newton issued any potentially dilutive securities. Listed below is a summary of Newton’s common stock activities.

                

Instructions
  (a) Compute the weighted-average number of common shares used in computing earnings per common share for 2013 on the 2014 comparative income statement.
  (b) Compute the weighted-average number of common shares used in computing earnings per common share for 2014 on the 2014 comparative income statement.
  (c) Compute the weighted-average number of common shares to be used in computing earnings per common share for 2014 on the 2015 comparative income statement.
  (d) Compute the weighted-average number of common shares to be used in computing earnings per common share for 2015 on the 2015 comparative income statement.

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Related Book For  answer-question

Intermediate Accounting

ISBN: 978-1118147290

15th edition

Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield

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