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On January 1, 2021, Sage Corp
On January 1, 2021, Sage Corp. had 463,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account.
February 1Issued 118,000 shares March 1Issued a 10% stock dividend May 1Acquired 103,000 shares of treasury stock June 1Issued a 3-for-1 stock split October 1Reissued 63,000 shares of treasury stock
Expert Solution
According to the provided information, I have calculated Weighted Number of Shares Outstanding as follows:
| Event | Dates | Shares | Restatement | Fraction | Weighted | ||
| Outstanding | Outstanding | of Year | Shares | ||||
| Beginning Balance | 01-Jan | to 1 Feb | 4,63,000 | 1.1*3 | 1/12 | 127325 | |
| Issued Shares | 01-Feb | to 1 March | 5,81,000 | 1.1*3 | 1/12 | 159775 | |
| Stock Dividend | 01-Mar | to 1 May | 639100 | 3 | 2/12 | 319550 | |
| Reacquired Shares | 01-May | to 1 June | 5,36,100 | 3 | 1/12 | 134025 | |
| Stock Split | 01-Jun | to 1 Oct | 1608300 | 4/12 | 536100 | ||
| Reissued Shares | 01-Oct | to Dec 31 | 1671300 | 3/12 | 417825 | ||
| Weighted Average Number of Shares Outstanding | 1694600 | ||||||
| Event | Dates | Shares | Restatement | Fraction | Weighted | ||
| Outstanding | Outstanding | of Year | Shares | ||||
| Beginning Balance | 44197 | to 1 Feb | 463000 | 1.1*3 | 1/12 | =463000*1.1*3*1/12 | |
| Issued Shares | 44228 | to 1 March | =463000+118000 | 1.1*3 | 1/12 | =581000*1.1*3*1/12 | |
| Stock Dividend | 44256 | to 1 May | =581000*(1+10%) | 3 | 2/12 | =639100*3*2/12 | |
| Reacquired Shares | 44317 | to 1 June | =639100-103000 | 3 | 1/12 | =536100*3*1/12 | |
| Stock Split | 44348 | to 1 Oct | =536100*3 | 4/12 | =1608300*4/12 | ||
| Reissued Shares | 44470 | to Dec 31 | =1608300+63000 | 3/12 | =1671300*3/12 | ||
| Weighted Average Number of Shares Outstanding | =SUM(I7:I12) | ||||||
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