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6 points Gina Co. had the following information related to common and preferred shares during the year: Common shares outstanding, 1/1 900,000 Common shares

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6 points Gina Co. had the following information related to common and preferred shares during the year: Common shares outstanding, 1/1 900,000 Common shares repurchased, 3/31 25,000 Conversion of preferred shares, 6/30 32,000 Common shares repurchased, 12/1 30,000 Chape reported net income of $3,000,000 at December 31. What amount of shares should Chape use as the DENOMINATOR in the computation of basic earnings per share? (6pts) Your answer

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