For the year ended December 31, Fancy Corporation reported net income of $8,500,000. At January 1 of the current year, the company had 4,100,000 common shares outstanding. On May 31, the company sold 820,000 shares in a public offering. On June 14 the company declared and distributed a 12% stock dividend. On October 1, the company issued 328,000 shares as part of the consideration for the purchase of assets from a subsidiary.

May 31	Sold 820,000 shares in a public offering
June 14	Declared and distributed a 12% stock dividend
October 1	Issued 328,000 shares as part of the consideration for the purchase of assets from a subsidiary

Required:

Compute Fancy's earnings per share for the year ended December 31, 2024.

1. What is the numerator in the EPS calculation?

2. What is the denominator in the EPS calculation?

3. Compute earnings per share for the year ended December 31, 2022