What amount are basic earnings per share for the year ended

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Reference no: EM131910239

Problem

A manufacturing company had the following outstanding shares as of January 1, year 2:

Preferred stock, $100 par, 7%, cumulative 116 shares
Common stock, $1 par 1,958 shares

On April 1, year 2, the company sold 1,624 shares of previously unissued common stock. No dividends were in arrears on January 1, year 2, and no dividends were declared or paid during year 2. Net income for year 2 totaled $15,198. What amount are basic earnings per share for the year ended December 31, year 2? Report answers to two decimal places.

Reference no: EM131910239

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