On December 31, 2008, Albacore Company had 260,000 shares of common stock issued and outstanding. Albacore issued a 12% stock dividend on June 30, 2009. On September 30, 2009, 8,000 shares of common stock were reacquired as treasury stock. What is the appropriate number of shares to be used in the basic earnings per share computation for 2009? a) 268,960. b) 291,200. c) 293,200. d) 289,200. On December 31, 2008, the Bennett Company had 120,000 shares of common stock issued and outstanding. Bennett's net income for the year ended December 31, 2009 was $570,000. Bennett had 10,000 shares of $100 par, 8% cumulative preferred stock outstanding throughout 2009. Dividends were not paid to preferred stock in 2009. What is the 2009 basic earnings per share? (Round your answer to 2 decimal places.) a) $4.77. b) $4.08. c) $3.57. d) $4.37