In-class Exercise #7 ACC 420 Fall 2017 Name On January 1, 2015, Change Corp. had 480,000 shares of common stock outstanding. During 2015, it had the following transactions that affected the Common Stock account. 1. February 1 March 1 May 1 Issued 120,000 shares issued a 20% stock dividend Issued 100,000 shares Assume that Change Corp. earned net income of $3,256,000 during 2015. In addition, it had 100,000 sha res of 996, $100 par cumulative preferred stock outstanding for the entire year. The company did not declare dividends in 2015. Instructions Compute basic EPS for 2015