On January 1, 2018, Shamu Corporation had 100,000 shares of common stock outstanding. The following transactions occurred during 2018: March 1: Reacquired 2,700 shares, accounted for as treasury stock. September 30: Sold all the treasury shares. December 1: Sold 11,700 new shares for cash. December 31: Reported a net income of $195,500. The following transactions occurred during 2019: January 10: Declared and issued a 308 stock dividend. December 31: Reported a net income of $265,800. 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.) Earnings per share 2018 2019 Sugarland Industries reported a net income of $740,750 on December 31, 2018. At the beginning of the year, the company had 490,000 common shares outstanding. On April 1, the company sold 26,400 shares for cash. On August 31, the company issued 46,800 additional shares as part of a merger. Required: Compute Sugarland's net income that would produce a basic EPS of $1.95 per share for 2018. Net Income