Olive Branch Inc. had 400,000 shares of common stock issued and outstanding at December 31, 2016. On July 1, 2017 an additional 200,000 shares were issued for cash. Olive Branch also had stock options outstanding at the beginning and end of 2017, which allow the holders to purchase 60,000 shares of common stock at $28 per share. The average market price of Olive Branch’s common stock was $35 during 2017. The number of shares to be used in computing diluted earnings per share for 2017 is:.
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Olive Branch Inc. had 400,000 shares of common stock issued and outstanding at December 31, 2016. On...
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