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Glen Co. uses a calendar year for financial reporting. At no time has the company issued...

Glen Co. uses a calendar year for financial reporting. At no time has the company issued any potentially dilutive securities. No common shares were issued during 2018. Additional information is shown below: Common shares issued and outstanding at 12/31/2018 400,000 Shares issued as a result of a 30% stock dividend on 6/30/2019 120,000 Shares issued for cash on 11/30/2019 280,000 Number of common shares issued and outstanding at 12/31/2019 800,000 The weighted-average number of common shares used in computing basic earnings per common share for 2018 on the 2019 comparative income statement was ________________ shares

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The question asks the weighted average no. of common shares used to compute Basic EPS per common share for 2018 on the 2019 comparative statement which is simply 400000 shares

Had the question asked Compute the weighted average number of common shares used in computing earnings per common share for 2019 on the 2019 comparative income statement.the answer would e as follows:

Jan. 1, 2019 -June 30, 2019 (400000*6/12) 200000
Retroactive adjustement for stock dividend 1.3
Jan. 1, 2019 -June 30, 2019 as adjusted(a) =260000
Oct. 1, 2010 - Dec.31, 2010(b)(400000+130000)*6/12= 260000
New Shares Issued in Nov 280000*1/12(c)= 23333
Shares outstanding (a+b+c) 543333
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