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On December 31, 2010, Credence Company had 600,000 shares of common stock issued and outstanding. Credence issued a 0.1 percent stock dividend on July 1,
On December 31, 2010, Credence Company had 600,000 shares of common stock issued and outstanding. Credence issued a 0.1 percent stock dividend on July 1, 2011. On October 1, 2011, Credence reacquired 54000 shares of its common stock. on December 1, Credence made a 3:1 stock split.
What number of shares should be used in computing basic earnings per share for the year ended December 31, 2011?
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