January 1, 2024, Woody Forrest Corporation granted executive stock options to purchase 29,000 of its common shares at $9 each. The market price of common stock was $12 per share on December 31, 2024, and averaged $12 per share during the year then ended.
January 1, 2024, Woody Forrest Corporation granted executive stock options to purchase 29,000 of its common shares at $9 each. The market price of common stock was $12 per share on December 31, 2024, and averaged $12 per share during the year then ended. There was no change in the 152,000 shares of outstanding common stock during the year. Net income for the year was $27,000. The number of shares to be used in computing diluted earnings per share for the quarter is:
Homework Answers
29,000-(29,000*9/12)= 7,250 note: the 12 is averaged $12 per share
7,250+152,000= 159,250 answer
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