Earnings per Share

The $2018$ balance sheet for Guthrie Corporation revealed the following information:

Common stock, $$10$ par, $50,000$ shares issued and outstanding

Preferred stock, $$100$ par, $6\%,$ cumulative stock, $1,000$ shares issued and outstanding

During $2019,$ Guthrie reported net income of $$225,000$ and engaged in the following stock transactions:

Mar. $1$ Issued $10,000$ shares of common stock for cash.

Apr. $1$ Reacquired $2,000$ shares of common stock as treasury stock.

Aug. $1$ Resold $1,000$ shares of treasury stock for cash.

Sept. $1$ Declared and issued a $50\%$ stock dividend on common stock.

Required:

Determine if Guthrie has a simple or complex capital structure.

$x$ shares

Compute the basic EPS that would be disclosed by Guthrie. Round your answer to $2$ decimal places.