2-for-1 share split, 10/1 Instructions Compute earnings per share. ecobert Exercise On January 1, 2022, Bailey Industries had shares outstanding as follows: 6% cumulative preference shares, $100 par value, issued and outstanding 10,000 shares Ordinary shares $10 par value, issued and outstanding 200,000 shares Net income for year 2022 was $900,000. Following transactions regarding ordinary shares took place in year 20200: On April 1, issued 50,000 Ordinary shares for $16 per share $1,000,000 $2,000,000 On June one decreased and issued 50% shares dividends on ordinary shares On October 1 purchased 20,000 ordinary shares as Treasury shares for $14 per share On December 1, sold 8,000 treasury shares for $15 per share. Calculate the Basic EPS