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What is number of shares that should be used in computing

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Reference no: EM132982493

Problem 1: Swifty Corporation had 1500000 shares of common stock issued and outstanding at December 31, 2020. On July 1, 2021 an additional 1250000 shares were issued for cash. Swifty also had stock options outstanding at the beginning and end of 2021 which allow the holders to purchase 371000 shares of common stock at $ 20 per share. The average market price of Swifty's common stock was $ 25 during 2021. What is the number of shares that should be used in computing diluted earnings per share for the year ended December 31, 2021?

a. 2824200
b. 2421800
c. 2217950
d. 2199200

Reference no: EM132982493

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