Jack Inc. had 750,000 shares of common stock issued and outstanding at December 31, 2019. On...
Jack Inc. had 750,000 shares of common stock issued and outstanding at December 31, 2019. On May 1, 2020 an additional 375,000 shares were issued for cash, and 300,000 shares were purchased on September 1, 2020. Jack also had stock options outstanding at the beginning and end of 2020, which allow the holders to purchase 100,000 shares of common stock at $28 per share. The average market price of Jack's common stock was $25 during 2020. What is the number of shares to be used in computing diluted earnings per share for 2020?
Homework Answers
Calculate no of shares in Diluted earning per share
| Outstanding shares (750000*4/12) | 250000 |
| May 1 (1125000*4/12) | 375000 |
| Sep 1 (1425000*4/12) | 475000 |
| Total | 1100000 |
| Stock option 100000-(100000*28/25) | 88800 |
| Diluted Shares used | 1188800 |
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