On December 31, 2022, Blossom Corporation had 142,800 common shares outstanding. On April 30, 2023, the company issued an additional 51,400 common shares for cash. On July 31, 2023, the company repurchased and cancelled 19,000 common shares. During the year ended December 31, 2023, Blossom earned income before taxes of $40,000,000. Not included in this income was a loss from discontinued operations of $5,000,000 before tax. The company was subject to a 25% income tax rate. (a) Your answer is incorrect. Calculate the weighted average number of common shares outstanding. Weighted Average Number of Common Shares eTextbook and Media Save for Later Last saved 8 minutes ago. Saved work will be auto-submitted on the due date. Auto- submission can take up to 10 minutes. Attempts: 2 of 5 used Submit Answer
On December 31, 2022, Blossom Corporation had 142,800 common shares outstanding. On April 30, 2023, the company issued an additional 51,400 common shares for cash. On July 31, 2023, the company repurchased and cancelled 19,000 common shares. During the year ended December 31, 2023, Blossom earned income before taxes of $40,000,000. Not included in this income was a loss from discontinued operations of $5,000,000 before tax. The company was subject to a 25% income tax rate. (a) Your answer is incorrect. Calculate the weighted average number of common shares outstanding. Weighted Average Number of Common Shares eTextbook and Media Save for Later Last saved 8 minutes ago. Saved work will be auto-submitted on the due date. Auto- submission can take up to 10 minutes. Attempts: 2 of 5 used Submit Answer
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA2: Investments
Section: Chapter Questions
Problem 25E
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