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QUESTION
On January 1, 2013, Warren Corporation had 1,000,000 shares of common stock outstanding. On March 1, the corporation issued 150,000 new shares to...
1. On January 1, 2013, Warren Corporation had 1,000,000 shares of common stock outstanding.On March 1, the corporation issued 150,000 new shares to raise additional capital. On July 1, thecorporation declared and issued a 2-for-1 stock split. On October 1, the corporation purchased onthe market 400,000 of its own outstanding shares and retired them.InstructionsCompute the weighted average number of shares to be used in computing earnings per share for2013.
