on january 1 2018 shamrock corp had 478 000 shares of commonstock outstanding during 3732777
On January 1, 2018, Shamrock Corp. had 478,000 shares of commonstock outstanding. During 2018, it had the following transactionsthat affected the Common Stock account. February 1 Issued 120,000shares March 1 Issued a 10% stock dividend May 1 Acquired 102,000shares of treasury stock June 1 Issued a 3-for-1 stock splitOctober 1 Reissued 59,000 shares of treasury stock Determine theweighted-average number of shares outstanding as of December 31,2018. The weighted-average number of shares outstanding LINK TOTEXT Assume that Shamrock Corp. earned net income of $3,582,000during 2018. In addition, it had 100,000 shares of 9%, $100 parnonconvertible, noncumulative preferred stock outstanding for theentire year. Because of liquidity considerations, however, thecompany did not declare and pay a preferred dividend in 2018.