Brick Co. has 170,000 shares of common stock outstanding at January 1, 2015. On May 1, 2015, it issued 30,000 additional shares

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2 years ago

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Brick Co. has 170,000 shares of common stock outstanding at January 1, 2015. On May 1, 2015, it issued 30,000 additional shares

of common stock. Outstanding all year were 12,000 shares of convertible cumulative preferred stock. Each share of the convertible preferred stock, which was dilutive in 2015, is convertible into one share of Brick’s common stock. What is the number of shares that Brick should use to calculate 2015 diluted earnings per share

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