Question: Incorrect answer iconYour answer is incorrect. On January 1, 2021, Crane Corporation had 1,030,000 shares of common stock outstanding. On March 1, the corporation issued

Incorrect answer iconYour answer is incorrect.

On January 1, 2021, Crane Corporation had 1,030,000 shares of common stock outstanding. On March 1, the corporation issued 120,000 new shares to raise additional capital. On July 1, the corporation declared and issued a 2-for-1 stock split. On October 1, the corporation purchased on the market 510,000 of its own outstanding shares and retired them.

Compute the weighted average number of shares to be used in computing earnings per share for 2021.

Weighted average number of shares 1577500 (this number is incorrect)

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