Calculate Basic Earnings Per

Share $($EPS$)$ based on the

following facts for the year

ended $12/31/2023$:

Revenue $$5,000,000$

Expenses $$4,000,000$

Net Income $$1,000,000$

Preferred stock dividends

$$250,000$

Inventory $$150,000$

Common stock outstanding as

of $12/31/2022-1,250,000$

shares

Additional common stock

issued on $6/30/2023-$

$500,000$ shares