16-127Diluted earnings per share. Brewer Company had 400,000 shares of common stock outstanding during the year 2007.

Ex. 16-127Diluted earnings per share.Brewer Company had 400,000 shares of common stock outstanding during the year 2007. In addition, at December 31, 2007, 90,000 shares were issuable upon exercise of executive stock options which require a $40 cash payment upon exercise (options granted in 2005). The average market price during 2007 was $50.InstructionsCompute the number of shares to be used in determining diluted earnings per share for 2007

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