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Determine the weighted average number of shares outstanding

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    Assignment ID: FG133136235

    Question – Weighted Average Shares – At the beginning of 2019, Hardin Company had 220,000 shares of $10 par common stock outstanding. During the year, it engaged in the following transactions related to its common stock:

    Mar. 1 Issued 45,000 shares of stock at $22 per share.

    June 1 Issued a 15% stock dividend.

    July 1 Issued 10,000 shares of stock at $27 per share.

    Aug. 31 Issued a 2-for-1 stock split on outstanding shares, reducing the par value to $5 per share.

    Oct. 31 Reacquired 95,000 shares as treasury stock at a cost of $30 per share.

    Nov. 30 Reissued 45,000 treasury shares at a price of $33 per share.

    Required –

    1. Determine the weighted average number of shares outstanding for computing the current earnings per share.

    2. Determine the number of common shares outstanding at December 31, 2019.

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