Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following information has been obtained from the Myers Corporation: 300,000 shares of common stock were outstanding on January 1, 2015. 50,000 stock options were

The following information has been obtained from the Myers Corporation:

300,000 shares of common stock were outstanding on January 1, 2015.

50,000 stock options were outstanding on January 1, 2015; each option allows the holder to acquire one share of common stock for $20 per share. The average market price of the common stock during 2015 was $25 per share.

48,000 shares of common stock were issued on February 1, 2015.

18,000 shares of common stock were repurchased on August 1, 2015.

What is the weighted average number of shares to be used in the calculation of basic earnings per share for 2015?

Format: xxx,xxx no unit, round if necessary.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Ethical Obligations And Decision Making In Accounting Text And Cases

Authors: Steven Mintz

6th Edition

1264135947, 9781264135943

Students also viewed these Finance questions