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On January 1, 202X, Patrick Corporation had 1,100,000 shares of common stock outstanding. On March...

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Question

Accounting

On January 1, 202X, Patrick Corporation had 1,100,000 shares of common stock outstanding. On March 1, the corporation issued 175,000 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 600,000 of its own outstanding shares and retired them.

Instructions

Compute the weighted average number of shares to be used in computing earnings per share for 202X.

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