Sheridan Company had 808000 shares of common stock outstanding at December 31, 2018. In addition, it...
Sheridan Company had 808000 shares of common stock outstanding
at December 31, 2018. In addition, it had 159000 stock options
outstanding, which had been granted to certain executives, and
which gave them the right to purchase shares of Sheridan's stock at
an option price of $37 per share. The average market price of
Sheridan's common stock for 2018 was $50. What is the number of
shares that should be used in computing diluted earnings per share
for the year ended December 31, 2018?
| 925660 |
| 849340 |
| 808000 |
| 863865 |
Homework Answers
Calculate number of shares used in diluted earning per share
Stock option diluted = 159000-(159000*37/50) = 41340
Number of share used in diluted earning per share = 808000+41340 = 849340
SO answer is b) 849340
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