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What amounts should lockdown report as basic earnings

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Lockdown co. has one class of common stock oustanding and no other securities that are potentially convertible into common stock. During 2019, 100, 000 shares of common stock were outstanding. In 2020, Two distributions of additional common shares occurred: On April1, 20, 000 shares of treasury stock were sold, and on July1, a 2-for-1 stock split was issued. Net income was 410, 000 in 2020 and 350, 000 in 2019.

Question 2: What amounts should Lockdown report as basic earnings per share in its 2019 and 2020, respevtively, comparative profit and loss statements?

Reference no: EM132544799

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