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Charles Austin of the controller's office of Thompson Corporation was given the assignment of determining the basic and diluted earnings per share values for the year ending December 31, 2013. Austin has compiled the information listed below.
Price per Share
The following specific activities took place during 2013.
(a) Determine the number of shares used to compute basic earnings per share for the year ended December 31, 2013. (Round answer to 0 decimal places, e.g. 1,500.)
(b) Determine the number of shares used to compute diluted earnings per share for the year ended December 31, 2013. (Round answer to 0 decimal places, e.g. 1,500.)
(c) Compute the adjusted net income to be used as the numerator in the basic earnings per share calculation for the year ended December 31, 2013.
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