Warren, Inc Required:
What Should Warren, Inc

Warren, Inc.determined the following information concerning its common stock during 2010:
$\begin{array}{ll}\text { January 1 } & \text { 40,000 shares outstanding } \\\text { April 1 } & \text { Issued a 10\% stock dividend } \\\text { July 1 } & \text { Issued an additional 1,900 share } \\\text { October 1 } & \text { Issued a 2-for-1 stock split } \\\text { December 1 } & \text { Reacquired 3,000 shares }\end{array}$
Required:
What should Warren, Inc.use as the denominator for its basic earnings per share calculation for 2010?

Correct Answer:

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