Calculate basic earnings per share for davis designs inc

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Reference no: EM132762470

Davis Designs, Inc. had net income for the year ended December 31, 20X4, of $360,000 and 200,000 shares of common stock were outstanding on December 31, 20X4. The year-end outstanding shares were the result of the following:

Common shares outstanding on January 1, 20X4 .................................... 140,000
Common shares issued for cash at market value on May 1, 20X4 ............... 60,000
Number of common shares outstanding through December 31, 20X4 ......... 200,000

Problem 1: There was no preferred stock. Calculate basic earnings per share.

Reference no: EM132762470

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