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On December 31, 2021, Harris Company had 400,000 shares of common stock issued and outstanding. On April 1, 2022, Harris purchased 120,000 shares of its
On December 31, 2021, Harris Company had 400,000 shares of common stock issued and outstanding. On April 1, 2022, Harris purchased 120,000 shares of its common stock as treasury stock. Harris issued a 4% stock dividend on July 1, 2022. 60,000 shares of treasury stock were sold on November 1. What is the appropriate number of shares (i.e., the denominator) to be used in the basic earnings per share computation for 2022?
A 342,800 shares
B 336,400 shares
C 333,200 shares
D 332,400 shares
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