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On January 1, 2018, Shamu Corporation had 100,000 shares of common stock outstanding. The following transactions occurred during 2018: March 1: Reacquired 3,900 shares, accounted
On January 1, 2018, Shamu Corporation had 100,000 shares of common stock outstanding. The following transactions occurred during 2018:
March | 1: | Reacquired 3,900 shares, accounted for as treasury stock. | ||
September | 30: | Sold all the treasury shares. | ||
December | 1: | Sold 12,900 new shares for cash. | ||
December | 31: | Reported a net income of $207,500. |
The following transactions occurred during 2019:
January | 10: | Declared and issued a 20% stock dividend. | ||
December | 31: | Reported a net income of $277,800. |
Required: Calculate Shamu's basic earnings per share for both years for presentation in comparative financial statements that will be prepared at the end of 2019. (Round your answers to 2 decimal places.)
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