Grimm Company has 2,400,000 shares of common stock outstanding on December 31, 2014. An
additional 150,000 shares of common stock were issued on July 1, 2015, and 300,000 more on October
1, 2015. On April 1, 2015, Grimm issued 6,000, $1,000 face value, 8% convertible bonds. Each bond
is convertible into 40 shares of common stock. No bonds were converted into common stock in 2015.
What is the number of shares to be used in computing diluted earnings per share for the year ended
December 31, 2015?

Answer rating: 100% (QA)

To compute the number of shares for diluted earnings per share at Grimm Company in 2015we need to co... View the full answer