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MMM Inc. had 5,000 shares outstanding on January 1, 2010. MMM Inc. issued 8,000 shares on...

MMM Inc. had 5,000 shares outstanding on January 1, 2010. MMM Inc. issued 8,000 shares on May 1 and an additional 9,000 shares on August 1, 2010. How many shares will be used to calculated earnings per share (2010). A) 5,000 B) 14,083 C) 15,225 D) 15,301 E) 22,000

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Answer #1
Date Outstanding Shares Fraction of years Weighted Shares
January 1 - May 1       5,000 4/12                       1,666.67
May 1 - August 1    13,000 3/12                             3,250
August 1 - December 31    22,000 5/12                       9,166.67
Weighted Average number of shares outstanding                          14,083

Answer is B) 14,083

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