Construction Ltd. had the following activity related to its shares for the year ended December 31, 2020. Common shares outstanding, January 1: 150,000 $3, cumulative preferred shares outstanding, January 1: 3,000 During 2020 April 1: Declared a 2-for-1 stock split on common shares July 1: Issued 20,000 common shares. August 1: Issued 1,000 $2, non-cumulative preferred shares. October 1: Repurchased 50,000 common shares. December 1: Declared a 15% stock dividend on common shares. Net income for the year was $476,000. No dividends were declared or paid in 2020. 

Required : Calculate basic earnings per share for 2020. Round to the nearest cent.

Answer rating: 100% (QA)

Basic Earning Per Share 139 47600030003335375 Worki... View the full answer