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Computing diluted earnings per share for the quarter

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Question - On January 1, 2021, Smeal Corporation granted incentive stock options to purchase 18,000 of its common shares at $7 each. The options are exercisable after one year. The market price of common averaged $9 per share during the quarter ending on March 31, 2021. There was no change in the 100,000 shares of outstanding common stock during the quarter ended March 31, 2021. Net income for the quarter was $8,268. Find the number of shares to be used in computing diluted earnings per share for the quarter?

Reference no: EM132768050

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