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How do compute the number of common shares outstanding

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Reference no: EM132599662

Mandella Enterprises has the following stockholders' equity section of its balance sheet on January 1:

Mandella Enterprises

Stockholders' Equity

January 1         10% Preferred Stock, par value $141, 19000 shares issued  and outstanding $2679000

                       Common Stock, par value $15, 132000 shares issued and outstanding 1980000

Additional Paid-in Capital 2640000

Retained Earnings 1670000

Total Stockholders' Equity $8980000

 

In addition, Mandella Enterprises had the following transactions during the year:

April 1 Issued 7000 shares of common stock.

August 1 Issued 42000 shares of common stock.

October 1 Purchased 5600 shares of treasury stock.

Question 1: Compute the number of common shares outstanding and the weighted average number of common shares outstanding.

Reference no: EM132599662

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