On January 1,Regal Corporation had outstanding 70,000 common shares.On April 1,Regal Corporation issued 20,000 common shares in exchange for land.On September 1,Regal Corporation reacquired 5,000 of its common shares.No other transactions regarding common shares occurred.The denominator to be used in the earnings per share calculation is:

Question

Quizplus · Accepted Answer

C) 70,000 + (20,000 × 9/12) - (5,000 × 4/12) = 83,333

On January 1,Regal Corporation Had Outstanding 70,000 Common Shares