Question: The following information pertains to Grey Corp.'s outstanding stock for 2016: Common stock, $5 par value Shares outstanding, 1/1/2016 18,866 Shares issued, 7/1/2016 17,122

The following information pertains to Grey Corp.'s outstanding stock for 2016: Common

The following information pertains to Grey Corp.'s outstanding stock for 2016: Common stock, $5 par value Shares outstanding, 1/1/2016 18,866 Shares issued, 7/1/2016 17,122 50% stock divdend, 9/1/2016 Preferred stock, $10 par value, 5% cumulative Shares outstanding, 1/1/2016 11,609 What is the number of shares Grey should use to calculate 2016 basic earnings per share?

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