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Frantic Fast Foods had earnings after taxes of $870,000 in 20X1 with 353,000 shares outstanding. On January 1, 20X2, the firm issued 5,000 new shares.

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Frantic Fast Foods had earnings after taxes of $870,000 in 20X1 with 353,000 shares outstanding. On January 1, 20X2, the firm issued 5,000 new shares. Because of the proceeds from these new shares and other operating improvements, earnings after taxes increased by 45 percent. a. Compute earnings per share for the year 20X1. (Round your answer to 2 decimal places.) Earnings per share b. Compute earnings per share for the year 20X2. (Round your answer to 2 decimal places.) Earnings per share

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