Question: On January 1 , Case Inc. had 2 4 0 , 0 0 0 shares of common stock issued and outstanding. Case issued a 1

On January

1,

Case Inc. had

240, 000

shares of common stock issued and outstanding. Case issued a

10 %

stock dividend on July

1 .

On October

1,

Case purchased

19, 200

shares of its common stock for the treasury. What is the number of shares that should be used in computing basic earnings per share for the year ended December

31 ?

The number of shares for the basic EPS calculation is

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