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At January 1, 2020, Stubbens Corp. had 600,000 shares of common stock outstanding. On July 1, 2020, Stubbens issued an additional 300,000 shares for cash.
At January 1, 2020, Stubbens Corp. had 600,000 shares of common stock outstanding. On July 1, 2020, Stubbens issued an additional 300,000 shares for cash. Stubbens also had stock options outstanding at the beginning and end of 2020 which allow the holders to purchase 45,000 shares of common stock at $18 per share. The average market price of Stubbens common stock was $25 during 2020. The number of shares to be used in computing diluted earnings per share for 2020 is
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