Question: Refer to the data for Messier Inc. given in BE11.15. Messier reported net income of $370,000. Messier also had 10,000 $2 cumulative preferred shares, on

Refer to the data for Messier Inc. given in BE11.15. Messier reported net income of $370,000. Messier also had 10,000 $2 cumulative preferred shares, on which the dividend for the current year was declared and paid. Calculate the basic earnings per share.

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