Exercise 16-15 (Part Level Submission) Carla Inc. uses a calendar year for financial reporting. The...
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Accounting
Exercise 16-15 (Part Level Submission)
Carla Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,810,000 shares of $12 par common stock. At no time has Carla issued any potentially dilutive securities. Listed below is a summary of Carlas common stock activities.
1.
Number of common shares issued and outstanding at December 31, 2018
1,850,000
2.
Shares issued as a result of a 12% stock dividend on September 30, 2019
222,000
3.
Shares issued for cash on March 31, 2020
2,180,000
Number of common shares issued and outstanding at December 31, 2020
4,252,000
4.
A 2-for-1 stock split of Carlas common stock took place on March 31, 2021
Compute the weighted-average number of common shares used in computing earnings per common share for 2020 on the 2020 comparative income statement.
shares
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