The following information pertains to Jet Corp.’s outstanding stock for 2006:
align=”left”>
|
Common stock, $5 par value |
|
|
Shares outstanding, 1/1/06 |
20,000 |
|
2-for-1 stock split, 4/1/06 |
20,000 |
|
Shares issued, 7/1/06 |
10,000 |
|
Preferred stock, $10 par value, 5% cumulative |
|
|
Shares outstanding, 1/1/06 |
4,000 |
What are the number of shares Jet should use to calculate 2006 basic earnings per share?
- 40,000
- 45,000
- 50,000
- 54,000