Question: Compute the basic earnings per share for 2015. (Round answer to 2 decimal places, e.g. 52.75.) Basic earnings per share is what? Assume that the

Compute the basic earnings per share for 2015. (Round answer to

Compute the basic earnings per share for 2015. (Round answer to 2 decimal places, e.g. 52.75.)

Basic earnings per share is what?

Assume that the following data relative to Kane Company for 2015 is available: Net Income $2,790,000 Transactions in Common Shares Jan. 1, 2015, Beginning number Mar. 1, 2015, Purchase of treasury shares June 1, 2015, Stock split 2-1 Nov. 1, 2015, Issuance of shares Change Cumulative 710,000 (65,400) 644,600 644,600 1,289,200 8% Cumulative Convertible Preferred Stock Sold at par, convertible into 220,000 shares of common (adjusted for split) $1,100,000 Stock Options Exercisable at the option price of $25 per share. Average market price in 2015, $30 (market price and option price adjusted for split) 84,000 shares

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