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Compute Earnings Per Share | Accounting homework help

Indigo Corporation began its latest fiscal year on January 1, 2021, with 490,000 common shares outstanding. During the year, the following events occurred:

-On February 1, Indigo sold 14,600 additional common shares.

-The company declared and issued a 25% stock dividend on March 1.

-On June 1, Indigo repurchased and canceled 3,650 common shares.

-An additional 4,800 common shares were issued on July 1.

-On September 1, Indigo declared and issued a three-for-one stock split.

-On December 1, Indigo issued an additional 15,600 shares.

-Following the fiscal year, Indigo declared and issued a two-for-one stock split on February 1, 2022.

The company issued its 2021 financial statements on April 30, 2022.

Calculate the weighted average number of common shares that Indigo should use for calculating its EPS numbers for 2021.


For 2010, Stoneland Corporation reported a net income of $24,000; net sales of $400,000; and average shares outstanding of 6,000. There were $6,000 preferred stock dividends. What were the 2010 earnings per share?

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