A company has the following sequence of events regarding their stock:
- One million shares outstanding at the beginning of the year.
- On June 30th, they declared and issued a 10% stock dividend.
- On September 30th, they sold 400,000 shares of common stock at par.
Basic earnings per share at year-end will be computed on how many shares?
A. 1,000,000.
B. 1,200,000.
C. 1,100,000.
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