Question: USE THE FOLLOWING INFORMATION: Net income after tax = $807,000 Common shares outstanding at the beginning of the year = 228,745 shares In addition, the

USE THE FOLLOWING INFORMATION:

Net income after tax = $807,000

Common shares outstanding at the beginning of the year = 228,745 shares

In addition, the following common stock changes occurred during the year:

May 1 shares issued for cash = 112,000 shares issued

December 1 shares repurchased into treasury stock = 56.000

Compute basic earnings per share.

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