For each of the following situations calculate basic earnings per share for the year ended December 31, 2014:

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Situation A Situation B Situation C Situation D Situation E Shares outstanding on December 31, 2013 500,000 2,500,000 10,000,000 5,000,000 100,000,000 Shares issued on June 30, 2014 0 500,000 0 0 20,000,000 Shares repurchased on June 30, 2014 1,000,000 700,000 Net income for 2014 $400,000 $1,525,000 ($ 2,000,000) $ 400,000 $ 45,000,000 Preferred shares outstanding during 2014 0 500,000 1,000,000 1,000,000 10,000,000 Preferred dividends per share paid $0 $2 $0 $1