# Jupiter Corporation earned net income of $90,000 this year. The company began the year with 600 shares of common stock and issued 500 more on April 1. They issued$5,000 in preferred dividends for the year. What is Jupiter Corporation’s weighted average number of shares for the year?

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### Principles of Accounting Volume 1

19th Edition
OpenStax
Publisher: OpenStax College
ISBN: 9781947172685

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FindFindarrow_forward

### Principles of Accounting Volume 1

19th Edition
OpenStax
Publisher: OpenStax College
ISBN: 9781947172685
Chapter 14, Problem 19EA
Textbook Problem
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## Jupiter Corporation earned net income of $90,000 this year. The company began the year with 600 shares of common stock and issued 500 more on April 1. They issued$5,000 in preferred dividends for the year. What is Jupiter Corporation’s weighted average number of shares for the year?

To determine

To calculate:

The weighted average number of shares of J Corporationfor the year.

Introduction:

Earning per share is the amount earned by the company for each share. It is computed by dividing the profits available for equity stockholders by the weighted average number of equity stock outstanding.

### Explanation of Solution

Computation of weighted average number of shares for the year:

 Number of shares Duration Weighted shares 600 3 Months (600×312)<

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