On January 1, 2020, Mack Corp had 275,000 Common Shares outstanding. During 2090 it has the
following transactions that affected the common shares account.
Mar 1
Declared and Issued 20% stock dividend
May 1
Issued 50,000 shares
Jun 1
Acquired 40,000 common shares and retired them
Sep 1
Issued a 2-for-1 stock split
Nov. 1
issued 20,000 shares Mack Corp issued 20,000 $9, cumulative preferred shares on Jan 1, 2020. Its net income for 2020
was $1.450.000. No dividend was declared and paid since 2019.
Please answer the following questions.
1. Number of common shares outstanding on Mar 2, 2020:
2. Number of common shares outstanding after share repurchase on Jun 1, 2020: