Question: On December 31, 2015, Emmanuel Company had 99,000 shares of common stock issued and outstanding. Emmanuel issued a 9% stock dividend on June 30,

On December 31, 2015, Emmanuel Company had 99,000 shares of common stock

On December 31, 2015, Emmanuel Company had 99,000 shares of common stock issued and outstanding. Emmanuel issued a 9% stock dividend on June 30, 2016. On October 1, 2016, 24,000 shares of common stock were reacquired as treasury stock. What is the appropriate number of shares to be used in the basic earnings per share computation for 2016?

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