Need Help... Book Is not much help
On January 1, 2010, the company had 50,000 share of common stock outstanding. During 2010, Zigland had the following transactions that affected its common stock account:
March 1: Issued 70,000 new shares at a price of $15 per share to raise additional capital.
April 1: Issued a 40% stock dividend when the share price was $16 per share.
June 1: Acquired 35,000 shares for the treasury at a cost of $18 per share.
August 1: Issued 80,000 new shares at a price of $14 per share.
November 1: Declared and issued a 3 for 1 stock split when the stock price was $21 per share.
December 1: Reissued 20,000 share of treasury stock at a price of $22 per share.
Compute the weighted average number of shares Zigland should use in computing earnings per share for 2010. Show your calculations.
