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Colt Corporation purchased Massey Inc. and agreed to give stockholders of Massey Inc. 5 0 , 0 0 0 additional shares in 2 0 2

Colt Corporation purchased Massey Inc. and agreed to give stockholders of Massey Inc. 50,000 additional shares in 2023 if Massey Inc.s net income in 2022 is $600,000 or more; in 2021 Massey Inc.s net income is $615,000. Colt has net income for 2021 of $1,500,000 and has an average number of common shares outstanding for 2021 of 500,000 shares. What should Colt report as earnings per share for 2021?

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