Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Pharoah Company had 5 0 0 , 0 0 0 shares of common stock outstanding during the year 2 0 2 5 . In addition,

Pharoah Company had 500,000 shares of common stock outstanding during the year 2025. In addition, 84,000 shares were issuable
upon exercise of executive stock options at December 31,2025 which require a $39 cash payment upon exercise (options granted in
2025). The average market price during 2025 was $50.
Compute the number of shares to be used in determining diluted earnings per share for 2025.
Number of shares

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Accounting

Authors: Debra JeterJames Reeve, Jonathan Duchac, Horace Brock, Paul Chaney

4th Edition

0470506989, 978-0470506981

More Books

Students also viewed these Accounting questions