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Determine what amount of shares should expresso use

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Reference no: EM132987135

Expresso Company had the following information related to common and preferred shares during the year:

Common shares outstanding 1/1 568,75 0

Common shares repurchased 3/1 17,500

Conversion of preferred shares 7/1 32,500

Common shares repurchased 12/ 1 29,250

Expresso reported net income of $1,625,000 at December 31.

Question 1: Determine what amount of shares should Expresso use as the denominator in the computation of basic earnings per share?

Reference no: EM132987135

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