xercise 19-3 s; treasury ck; new shares; ck dividends; years he Reserve Company had 606 million shares of common stock outstanding at January 1 2016. The following activities affected common shares during the year: There are no potential common shares outstanding. 2016 Feb. 27 Purchased 18 million shares of treasury stock. Oct. 30 Sold the treasury shares purchased on February 27 Nov. 29 Issued 72 million new shares Dec. 31 Net income for 2016 is $1,200 million. 2017 19-5 LO19-6 t: E 19-14 Jan. 14 Declared and issued a 2 for 1 stock split. Dec. 31 Net income for 2017 is $1,200 million Required: 1. Determine the 2016 EPS 2. Determine the 2017 EPS 3. At what amount will the 2016 EPS be presented in the 2017 comparative financial statements