1. Freemont Corporation reported net income of $1,100,000 for its fiscal year ended December 31, 2022. Preferred stock dividends of $150,000 were declared during the year. Fremont had 2,000,000 shares of common stock at the beginning of 2022 and issued an additional 500,000 shares on April 1, 2022. What would be Fremonts basic earnings per share for 2022?

2. Everest Copy Enterprises offers a premium copy package (PCP) to potential customers. In the PCP, customers receive a copy machine plus three years of repair service for a total of cost of $2,700. When sold separately, a copy machine costs $1,800 and one year of repair service costs $400. On October 1, 2021, Everest sells a PCP to Romney, Inc. Installation occurs the same day with repair service effective immediately. How much revenue should Everest record for the fiscal year ended December 31, 2021 as a result of this PCP sale?