Calculate Weighted-Average Shares Outstanding: Crane Company 2018

To calculate the weighted-average number of shares outstanding for 2018, we need to take into account the number of shares outstanding at different points in time and for different durations.

As of January 1, 2018, Crane Company had 370,000 shares of common stock outstanding.

On March 1, Crane sold an additional 740,000 shares, which were outstanding for 10 months (March to December).

On May 1, Crane issued a 20% stock dividend. This means that the number of shares increased by 20% of the shares outstanding, which is 20% of 1,110,000 (370,000 + 740,000). Therefore, an additional 222,000 shares were issued.

On August 1, Crane purchased 410,000 shares for retirement. This means that the number of shares decreased by 410,000.

On November 1, Crane sold 590,000 shares, which were outstanding for 2 months (November and December).

To calculate the weighted-average number of shares outstanding, we need to determine the weighted average of the shares for each period and then sum them up.

Weighted average shares for January to February = 370,000 shares * 2/12 = 61,667 shares Weighted average shares for March to December = 740,000 shares * 10/12 = 616,667 shares Weighted average shares for May to December (after stock dividend) = (1,110,000 shares + 222,000 shares) * 8/12 = 752,000 shares Weighted average shares for August to December (after purchase and retirement) = 752,000 shares - 410,000 shares = 342,000 shares Weighted average shares for November to December = 590,000 shares * 2/12 = 98,333 shares

Total weighted-average number of shares outstanding for 2018 = 61,667 + 616,667 + 752,000 + 342,000 + 98,333 = 1,870,667

Rounded to the nearest dollar, the weighted-average number of shares outstanding for 2018 is 1,870,667.

Therefore, the correct answer is not provided in the answer choices. The correct answer is 1,870,667.