Question
On January 1, 2017, Keys Corp. had 350,000 shares of common stock issued and outstanding. On April 1, 50,000 shares of treasury stock were purchased,
On January 1, 2017, Keys Corp. had 350,000 shares of common stock issued and outstanding. On April 1, 50,000 shares of treasury stock were purchased, and on October 1, 100,000 shares were issued. Net income for the year ending December 31, 2017, was $1,160,000. What is Keys Corp.'s 2017 basic earnings per share, rounded to the nearest penny?
a.$2.90
b.$3.31
c.$3.44
d.$2.81
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Financial and Managerial Accounting Information for Decisions
Authors: John Wild, Ken Shaw, Barbara Chiappetta
5th edition
978-1259317552, 1259317552, 978-0078025600, 78025605, 978-1259335013, 1259335011, 978-1259347641
