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Compute the weighted-average number of common shares

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Question - Newton Inc. uses a calendar year for financial reporting. Listed below is a summary of Newton's common stock activities.

Number of common shares issued and outstanding at December 31, 2018 3,000,000

Shares issued as a result of a 20% stock dividend on September 30, 2019 600,000

Shares issued for cash on March 31, 2020 1,200,000

Number of common shares issued and outstanding at December 31, 2020 4,800,000

Compute the weighted-average number of common shares used in computing earnings per common share for 2019 on the 2020 comparative income statement.

a. 3,000,000

b. 3,600,000

c. 3,150,000

d. 2,700,000

Reference no: EM132799273

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