A firm had the following numbers of shares outstanding during the year:
Beginning of year 8,000,000 shares
Issued on April 1 750,000 shares
Paid stock divided of 20% on July 1
Issued on October 1 100,000 shares
Purchased Treasury stock November 1 1,000,000 shares
Split 2 for 1 on December 31
Based on this information, what is the weighted number of shares outstanding for the year?
This solution determines the weighted number of shares outstanding for the year.