On January 1, 2016, Bailey, Inc. had 102,412 shares of common stock outstanding. The following transactions...
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On January 1, 2016, Bailey, Inc. had 102,412 shares of common stock outstanding. The following transactions occurred during 2016: March 1: Reacquired 24,000 shares, accounted for as treasury stock. September 30: Sold all the treasury shares. December 1:Sold 18,000 new shares for cash. December 31 Reported a net income of $233,995. Calculate Bailey's basic earnings per share for the year ended December 31, 2016. (Round your answer to 2 decimal places.) On January 1, 2016, Bailey, Inc. had 102,412 shares of common stock outstanding. The following transactions occurred during 2016: March 1: Reacquired 24,000 shares, accounted for as treasury stock. September 30: Sold all the treasury shares. December 1:Sold 18,000 new shares for cash. December 31 Reported a net income of $233,995. Calculate Bailey's basic earnings per share for the year ended December 31, 2016. (Round your answer to 2 decimal places.)
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