At the beginning of the year, the Coaster Company had 40,000…
At the beginning of the year, the Coaster Company had 40,000 shares of $10 par value common stock outstanding. During the year, it engaged in the following transactions related to its common stock: February 28 – Repurchased 7,500 shares of common stock April 30 – Announced and executed a 4-for-1 stock split June 1 – Issued 20,000 shares of common stock September 31 – Declared and distributed a 25% stock dividend December 1 – Repurchased 15,000 shares of common stock Compute the Coaster Company’s weighted average common shares outstanding.