Effect of Stock Split

Copper Grill Restaurant Corporation wholesales ovens and ranges to restaurants throughout the Southwest. Copper Grill Restaurant Corporation, which had 54,000 shares of common stock outstanding, declared a 2-for-1 stock split.

a. What will be the number of shares outstanding after the split? shares

b. If the common stock had a market price of $84 per share before the stock split, what would be an approximate market price per share after the split? $ per share

EPS

Junkyard Arts, Inc., had earnings of $354,600 for the year. The company had 36,000 shares of common stock outstanding during the year and issued 1,800 shares of $100 par value preferred stock. The preferred stock has a dividend of $7 per share. There were no transactions in either common or preferred stock during the year.

Determine the basic earnings per share for Junkyard Arts for the year. Round answer to two decimal places. $ per share