单选题 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 400000 shares of common stock at par.
Basic earnings per share at year-end will be computed on how many shares?

• A. 1600000.
• B. 1000000.
• C. 1200000.