19

Required information On January 1 of the current year, a company's shareholders' equity included the following . Common stock 500,000 shares authorized: 400,000 shares issued and outstanding Preferred stock: 20,000 shares of 7%, $60 par cumulative preferred stock issued and outstanding Additional information: . On March 1, the company sold 60.000 common shares . On November 1, the company retired 72,000 common shares . On June 1, the company distributed a 16% common stock dividend Net Income for the year was $268,800. The income tax rate was 25% Use the information above to answer the questions below. What is the denominator of Basic EPS? (Click to select)