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The Following Information Has Been Obtained from the Massena Corporation

question 100

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The following information has been obtained from the Massena Corporation:
• 100,000 shares of common stock were outstanding on January 1,2015.
• 30,000 shares of common stock were issued on March 1,2015.
• A 2 for 1 stock split was declared on April 1,2015.
• The 2 for 1 stock split was distributed on May 1,2015.
• 10,000 shares of common stock were purchased on October 1,2015.
What is the weighted average number of shares to be used in the calculation of basic earnings per share for 2015?


Definitions:

Independent Project

In project management, a project that does not depend on the acceptance or completion of other projects.

Mutually Exclusive Projects

Investment opportunities such that if one is chosen, the others must be rejected.

Warehouse

A large building where goods are stored before they are distributed to stores or customers.

Equipment

Tangible assets or physical items used in the operation of a business, such as machinery, tools, or computers.

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