Question: Use the same information as in BE17-19 and assume that Glavin also wrote put options that allow the holder to sell Glavin's shares to Glavin

Use the same information as in BE17-19 and assume that Glavin also wrote put options that allow the holder to sell Glavin's shares to Glavin at $13 per share. Calculate the incremental shares outstanding for Glavin Limited.

Data From BE17–19

Glavin Limited purchased 40,000 call options during the year. The options give the company the right to buy its own common shares for $9 each. The average market price during the year was $12 per share. Calculate the incremental shares outstanding for Glavin Limited.

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