Tomba Corporation had 557,400 shares of common stock outstanding on January 1, 2014. On May 1, Tomba issued 34,200 shares.
(a) Compute the weighted-average number of shares outstanding if the 34,200 shares were issued for cash.
Weighted-average number of shares outstanding
$
(b) Compute the weighted-average number of shares outstanding if the 34,200 shares were issued in a stock dividend.
Weighted-average number of shares outstanding
$