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Computing basic earnings per share for year ended december

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Question - On December 31, 2015,Superior Inc. had 600,000 shares of common stock issued and outstanding. Superior issued a 10 percent stock dividend on July 1, 2016. On October 1, 2016. Superior reacquired 48,000 shares of its common stock and recorded the purchase using the cost method of accounting for treasury stock. What is the number of shares that should be used in computing basic earnings per share for the year ended December 31, 2016?

A. 612,000

B. 648,000

C. 618,000

D. 660,000

Reference no: EM133069857

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