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Compute the number of shares at december

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Problem - Johnson Co. has 4,000,000 shares of common stock outstanding on December 31, 2017. An additional 200,000 shares are issued on April 1, 2018, and 480,000 more on September 1. Johnson had $6,000,000 of 9% convertible bonds outstanding all year. Each $1,000 bond is convertible into 40 shares of common stock. Compute the number of shares at December 31, 2018, to be used in computing Basic earnings per share?

Reference no: EM132860721

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