Kennett Corporation reported having 214.6 million shares outstanding at the end of its most recent fiscal year,

Question:

Kennett reported having 214.6 million shares outstanding at the end of its most recent fiscal year, ended December 31, 2012. On April 1, 2013, Kennett issued 36.2 million shares of , at a price of $18 per share. On September 1, 2013, Kennett employees exercised stock options, requiring Kennett to issue an additional 27.4 million shares of . Kennett had no other common share transactions during fiscal 2013.
a. How many shares of did Kennett have outstanding at December 31, 2013?
b. What was Kennett’s weighted-average number of shares for the year ended December 31, 2013?

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