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.