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What is the number of shares that should be used

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Sheridan Company had 1580000 shares of common stock issued and outstanding at December 31, 2017. On July 1, 2018 an additional 1244000 shares were issued for cash. Sheridan also had stock options outstanding at the beginning and end of 2018 which allow the holders to purchase 379000 shares of common stock at $15 per share. The average market price of Sheridan's common stock was $20 during 2018.

What is the number of shares that should be used in computing diluted earnings per share for the year ended December 31, 2018?

Reference no: EM132325897

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