Question: Zoe Enterprises started the year with 5 , 0 0 0 , 0 0 0 outstanding shares of common stock. On 4 / 1 ,

Zoe Enterprises started the year with 5,000,000 outstanding shares of common stock. On 4/1, it issued 500,000 more shares and on 9/1 it bought back 700,000 shares. Net income for the year was $2,800,000, common dividends of $250,0000 and preferred dividends were $400,000. How much earnings per share?

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