Great Northern Inc. reported the following comparative information in the Stockholders' Equity section of its 2009 balance sheet.

*Par value after June 1, 2009, stock split.
In addition, company records show that the following transactions involving stockholders' equity were recorded in 2008 and 2009.
2008
May 1 Sold 4,500 shares of common stock for $12, par value $10.
June 30 Sold 350 shares of preferred stock for $62, par value $50.
Aug. 1 Issued an 8% stock dividend on common stock. The market price of the stock was $15.
Sept. 1 Declared cash dividends of 12% on preferred stock and $1.50 on common stock.
Dec. 31 Income before extraordinary items for the year totaled $316,200. In addition, Great Northern had an extraordinary gain of $12,500, net of tax.
2009
Jan. 31 Sold 1,100 shares of common stock for $15.
May 1 Sold 300 shares of preferred stock for $64.
June 1 Issued a 2-for-1 split of common stock, reduced par value to $5.
Sept. 1 Purchased 500 shares of common stock for $9 to be held as treasury stock.
Oct. 1 Declared cash dividends of 12% on preferred stock and $2 per share on outstanding common stock.
Nov. 1 Sold 500 shares of treasury stock for $11.
Dec. 31 Net income for the year included an extraordinary loss, net of income tax, of $19,000.
Instructions:
Compute the basic EPS amounts for 2008 and 2009 to be presented in the income statement for2009.

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December 31, 2009 2007 50,000 325,000 2 12% Preferred stock, $50 par Paid-in capital in excess of par- preferred... Common stock, $5 par* Paid-in capital in excess of par-common. Paid-in capital from treasury stock Retained earnings $ 82,500 13.400 410,600 64,300 1,900 471,200 $1,043,800 67,500 9.200 399,600 58,800 5,000 35,000 396,460 $932,360 290,200 Total stockholders equity $706,000