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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responsible for the overall performance of an organization or one of its
major self-contained subunits or divisions.*
General Manager
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Front-line Manager
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Arguments against industrial policy include all of the following except Select one: a. foreign industrial policy success has been variable. b. The need to rescue "sunset" industries. c. the need to promote "sunrise" industries. d. reduces market efficiency

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False

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Multiple Choice
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Question 4
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Statement of Cash Flows (partial)
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2
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4
5
6
7 Changes in current operating assets and liabilities:
8
9
10

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1 standard deviation of the population mean

2 standard deviation of the population mean

3 standard deviation of the population mean

4 standard deviation of the population mean

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