Weighted Average Shares

At the beginning of $2019,$ Hardin Company had $340,000$ shares of $$10$ par common stock outstanding. During the year, it engaged in the following transactions related to its common stock:

March $1$ Issued $50,000$ shares of stock at $$23$ per share.

June $1$ Issued a $20\%$ stock dividend.

July $1$ Issued $13,000$ shares of stock at $$28$ per share.

Aug. $31$ Issued a $2-$for$-1$ stock split on outstanding shares, reducing the par value to $$5$ per share.

Oct. $31$ Reacquired $89,000$ shares as treasury stock at a cost of $$31$ per share.

Nov. $30$ Reissued $44,000$ treasury shares at a price of $$34$ per share.

Required:

$1.$ Determine the weighted average number of shares outstanding for computing the current earnings per share. Round your interim computations and final answer for the number of shares to nearest whole number.

Answer rating: 100% (QA)

To determine the weighted average number of shares outstanding we need to consider the number of shares outstanding during each period and the duratio... View the full answer