The hefty corp reported net income for 2018 of $175,000 Hefty began the year with 100,000 shares of $10 par value common shares outstanding and 2,500 shares of $100 par value 8 preferred shares outstanding On July 1, Hefty sold 20,000 shares of common stock for $6 per share Hefty paid dividends to the common shareholders in December The basic earnings per share for 2018 is (rounded)

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The basic earnings per share refers to amount of companys profits earned by each common sha... View the full answer