2A2V AT THE BEGINNING OF THE YEAR, LEWIS CORPORATION HAD 100,000 SHAR...

74.

CSO: 2A2e

LOS: 2A2v

At the beginning of the year, Lewis Corporation had 100,000 shares of common stock

outstanding. During the year, the following transactions occurred.

Date

Transaction

April 1

Issued 10,000 shares in exchange for land

July 1

Declared and distributed a 10% stock dividend

October 1

Purchased 5,000 shares of treasury stock

The number of shares that Lewis should use when computing earnings per share at the

end of the year is

a.

117,000.

b.

116,000.

c.

111,750.

d.

106,250.