Question
On January 1, 2021, Albacore Company had 260,000 shares of its common stock issued and outstanding. Albacore issued a 13% stock dividend on July 1,
On January 1, 2021, Albacore Company had 260,000 shares of its common stock issued and outstanding. Albacore issued a 13% stock dividend on July 1, 2021. On October 1, 2021, Albacore retired 10,000 of its common shares. When calculating basic earnings per share for 2021, what is the appropriate number of shares for Albacore to use in the denominator of the EPS fraction?
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Financial Markets And Institutions
Authors: Peter Howells, Keith Bain
5th Edition
0273709194, 9780273709190
