The average market price of foyles common stock was 20, Ask an Expert

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Foyle, Inc., had 560,000 shares of common stock issued and outstanding at December 31, 2010. On July 1, 2011, an additional 40,000 shares of common stock were issued for cash. Foyle also had unexercised stock options to purchase 32,000 shares of common stock at $15 per share outstanding at the beginning and end of 2011. The average market price of Foyle's common stock was $20 during 2011. What is the number of shares that should be used in computing diluted earnings per share for the year ended December 31, 2011?

580,000

588,000

608,000

612,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9439665

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