(Answered) Problem - at december 31 2016 st johns limited had 4000000

Accounting

Problem - At December 31, 2016, St. John's Limited had 4,000,000 common shares outstanding (no preferred shares issued). An additional 250,000 common shares were issued on July 1, 2017, and 500,000 more on October 1, 2017. As well, on April 1, 2017, St. John's issued 10,000, $1,000 face value, 8% convertible bonds. Each bond is convertible into 40 common shares. No bonds were converted in 2017. What is the number of shares to be used in calculating basic earnings per share and diluted earnings per share, respectively, for 2017?

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