1. The following information pertains to Testa Inc. for 2020.

   Jan. 1 Number of common shares issued and outstanding, 100,000

   March 1 Number of common shares purchased for the treasury, 13,000

   July 31 Number of common shares purchased for the treasury, 5,000

   Nov. 30 Reverse two-for-one stock split

   Dec. 31 Reported net income of $88,000

   What is the companys earnings per share reported in its financial statements for the year ended December 31, 2020?

   	a.	$2.00
   	b.	$1.05
   	c.	$1.56
   	d.	$2.02