Question
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
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started