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On January 1, 2021, Sheridan Company had 374000 shares of its $2 par value common stock...

On January 1, 2021, Sheridan Company had 374000 shares of its $2 par value common stock outstanding. On March 1, Sheridan sold an additional 749000 shares on the open market at $20 per share. Sheridan issued a 20% stock dividend on May 1. On August 1, Sheridan purchased 430000 shares and immediately retired the stock. On November 1, 605000 shares were sold for $25 per share. What is the weighted-average number of shares outstanding for 2021?

513140

1522600

1119467

713140

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Answer #1
Weighted average share outstanding
Jan 1 374000*1.2*2/12 74800
Mar 1 (374000+749000)*1.2*2/12 224600
May 1 1123000*1.2*3/12 336900
Aug 1 1347600-430000*3/12 229400
Nov 1 1522600*2/12 253767
Total 1119467

So answer is c) 1119467

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