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Anderson Steel Company began 2018 with 450,000 shares of common stock outstanding. On March 31, 2018, 220,000 new shares were sold at a price of
Anderson Steel Company began 2018 with 450,000 shares of common stock outstanding. On March 31, 2018, 220,000 new shares were sold at a price of S45 per share. The market price has rnsen steadily since that time to a high of $50 per share at December 31 No other changes in shares occurred during 2018, and no securitles are outstanding that can become common stock However, there are two agreements with officers of the company for future Issuance of common stock. Both agreements relate to compensation arrangements reached In 2017. The first agreement grants to the company president a right to 22,000 shares of stock each year the closing market price is at least $48. The agreement begins In 2019 and explres in 2022 The second agreement grants to the controller a right to 27000 shares of stock if she is still with the firm at the end of 2026. Net Income for 2018 was $3,200,000 Required: Compute Anderson Steel Company's basc and diuted EPS for the year ended December 31, 2018. (Enter your enswers In thousands) Numerator | 1 | Denominator | = | Earnings per Share Basic EPSs Diluted EPS
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