The following information has been obtained from the Brewster Corporation:
• 250,000 shares of common stock were outstanding on January 1,2015.
• 30,000 shares of preferred stock were issued on March 1,2015.
• 12,000 shares of common stock were purchased on April 1,2015.
• 10,000 shares of common stock were issued 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?

Question

Quizplus · Accepted Answer

250,000 - 9,000 (-12,000 × 9/12)+ 2,500 (10,000 × 3/12)= 243,500

The Following Information Has Been Obtained from the Brewster Corporation