Morrison Manufacturing Corporation had 30,000 common shares outstanding at January 1,2017.During 2017,Morrison issued an additional 25,000 shares on February 1,and another 20,000 shares on May 1.If Morrison's net income was $916,800,the company's earnings per share reported on the 2017 income statement will be:

Question

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B) $916,800/[30,000 + (25,000 × 11/12) + (20,000 × 8/12)] = $13.84

Morrison Manufacturing Corporation Had 30,000 Common Shares Outstanding at January