Question: The net income after income tax of Fleming Inc was
The net income (after income tax) of Fleming Inc. was $4.80 per common share in the latest year and $7.50 per common share for the preceding year. At the beginning of the latest year, the number of shares outstanding was doubled by a stock split. There were no other changes in the amount of stock outstanding. What were the earnings per share in the preceding year, adjusted for comparison with the latest year?
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