The Following Information Has Been Obtained from the Mastic Corporation

question 58

Multiple Choice

The following information has been obtained from the Mastic Corporation:
• 550,000 shares of common stock were outstanding on January 1,2015.
• Bonds convertible into 50,000 shares of common stock were issued on July 1,2015;the bonds have been determined to be dilutive.
• 36,000 shares of common stock were issued on November 1,2015.
• 24,000 shares of common stock were purchased on December 1,2015.
What is the weighted average number of shares to be used in the calculation of diluted earnings per share for 2015?

• A)612,000
• B)587,000
• C)604,000
• D)579,000

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Definitions:

Sudeten Region

A historically contentious area in Central Europe, primarily in the Czech Republic, known for its German-speaking majority before WWII.

Great Britain

A sovereign country located off the northwestern coast of mainland Europe comprising England, Scotland, and Wales, with a storied history of global influence.

French Declaration

The Declaration of the Rights of Man and of the Citizen, a fundamental document of the French Revolution that outlined individual and collective rights.