The following information has been obtained from the Myers Corporation: 300,000 shares of common stock were outstanding on January 1, 20X1. 50,000 stock options were outstanding on January 1, 20X1; each option allows the holder to acquire one share of common stock for $20 per share. The average market price of the common stock during 20X1 was $25 per share. 48,000 shares of common stock were issued on February 1, 20X1. 18,000 shares of common stock were purchased on August 1, 20X1. What is the weighted average number of shares to be used in the calculation of diluted earnings per share for 20X1

Thus, the weighted average number of shares that Myers Corporation will use in the calculation of diluted earnings per share for 20X1 is 386,500.

Data and Calculations:

Date of Issue                 No. of Share    Weight      Weighted-Average

Outstanding, Jan.1           300,000         12/12                300,000

February 1                           48,000         11/12                   44,000

August 1 (Treasury stock) (18,000)         5/12                     (7,500)

Jan. 1 (Stock options)        50,000        12/12                    50,000

Weighted average number                                           386,500

In calculating the weighted average number of shares, the weight of each share issuance is dependent on the number of months that it has remained outstanding.

Thus, the weighted average number of shares that Myers Corporation will use in the calculation of diluted earnings per share for 20X1 is 386,500.

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D. to file articles of organization with the secretary of state.)
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A. members
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C. shareholders of the partnership.
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A. state constitutions
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C. case law
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A. articles of organization
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A. to be taxed at the entity level
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C. to protect the members from personal liability
D. to file articles of organization with the secretary of state)
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B. investments in the company
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11. Dan and Lori divorced ____.
A. before
B. after the end of the second three-year term.
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13. At the time of signing of the extension, it was ___.
A. reasonable
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A. liable
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16. Why? Flying Cat would have _____.
A. reasonably
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17. Therefore, would Dan likely be held liable by the court for the nearly $50,000 debt the partnership accrued?
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19. Why? Flying Cat _____.
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2
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4
5
6
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8
9
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