Calculate the firms basic EPS given the following information for 2023.

On January 1 the firm has 100,000 common shares issued outstanding.

On March 1 the firm issues an additional 25,000 shares.

On April 1 the firm declares a 10% stock dividend.

On July 1 the firm repurchases 10,000 shares.

On November 1 the firm executes a 3:1 stock split. Treasury shares participate in the split.

On December 31 the firms income statement shows $500,000 in net income and the firm has 5,000 shares of 7% preferred stock with a par value of $100 per share.