Question: Basic EPS On January 1, 2018 Basic Corporation had 600,000 common shares outstanding and 25,000 $.50 cumulative convertible preferred shares outstanding. Dividends are in arrears

Basic EPS On January 1, 2018 Basic Corporation had 600,000 common shares outstanding and 25,000 $.50 cumulative convertible preferred shares outstanding. Dividends are in arrears for three years. On February 1, 2018 the company issued 380,000 common shares. On March 1, 2018 the company issued a 2 for 1 stock split. On June 1, 2018, the company repurchased and retired 120,000 common shares Income from continuing operations was $2,700,000 and the company recorded a discontinued operations loss of 260,000

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