For the year ended December $31,2024,$ Fancy Corporation reported net income of $$8,500,000.$ At January $1,2024,$ the company had $4,100,000$ common shares outstanding. On May $31,$ the company sold $820,000$ shares in a public offering. On June $14$ the company declared and distributed a $12\%$ stock dividend. On October $1,$ the company issued $328,000$ shares as part of the consideration for the purchase of assets from a subsidiary.

January $1$ Shares outstanding $4,100,000$

May $31$ Shares issued $820,000$

June $14$ Stock dividend $12\%$

October $1$ Shares issued $328,000$

Net income $$8,500,000$

Required: Compute Fancy's earnings per share for the year ended December $31,2024.$

$1.$ What is the numerator in the EPS calculation? $$8,500,000$

$2.$ What is the denominator in the EPS calculation?

Adjustment for:

Shares Stock Dividend Fraction of Year Weighted Shares

$12\%$

January $14,100,0001\mathrm{.}1212/124,592,000$

May $31820,0001\mathrm{.}128/12612,267$

October $1328,0001\mathrm{.}122/1261,227$

Total Weighted Shares $5,265,493$

$3.$ Compute earnings per share for the year ended December $31,2024.$ $$1\mathrm{.}61$