On January 1, 2015, Edward Corporation had 20,000 shares of $4 par value common stock...
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Accounting
On January 1, 2015, Edward Corporation had 20,000 shares of $4 par value common stock and 20,000 shares of 8%, $100 par value convertible preferred stock outstanding. The preferred shares carried a 2 for 1 conversion privilege. On October 1, 2015, all of the preferred shares were converted to common. What number of shares must Edward use in computing basic earnings per share at December 31, 2015?
A. 30,000.
B. 60,000.
C. 10,000.
D. 20,000
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