Ringmeup Inc. had net income of $199,800 for the year ended December 31, 2019. At the beginning of the year, 41,000 shares of common stock were outstanding. On May 1, an additional 16,000 shares were issued. On December 1, the company purchased 4,000 shares of its own common stock and held them as treasury stock until the end of the year. No other changes in common shares outstanding occurred during the year. During the year, Ringmeup paid the annual dividend on the 7,000 shares of 4.20%. $100 par value preferred stock that were outstanding the entire year. Required: Calculate basic earnings per share of common stock for the year ended December 31, 2019. (Do not round Intermediate calculations. Round your answer to 2 decimal places.) Eamings per share Big Blue University has a fiscal year that ends on June 30. The 2019 summer session of the university runs from June 8 through July 28. Total tuition paid by students for the summer session amounted to $120,000. Required: a. How much revenue should be reflected in the fiscal year ended June 30, 2019? Amount of revenue b. Would your answer to part a be any different if the university had a tuition refund policy that no tuition would be refunded after the end of the third week of summer session classes? Yes O No If the ending Inventory of a firm is overstated by $50,000, by how much and in what direction (overstated or understated) will the firm's operating income be misstated? (Hint: Use the cost of goods sold model, enter hypothetically "correct" data, and then reflect the ects of the ending Inventory error and determine the effect on cost of goods sold.) Operating income by overstated understated