Calculate the basic earnings per share for ceradyne inc

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Ceradyne Inc. had 35,400 common shares on January 1, 2021. On May 1,2,760 common shares were repurchased and retired. On August 31 and November 30,9,840 and 5,760common shares were issued, respectively.Ceradyne reported net income of $349,000. Ceradyne also had 9,000$2 noncumulative preferred shares, on which the dividend for the current year was declared and paid.

Problem 1: Calculate the basic earnings per share. (Round answer to 2 decimal places, e.g. 15.25.)

Reference no: EM132995707

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