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Stanley Department Stores reported net income of $755,000 for the year ended December 31, 2021.
Additional Information:
Common shares outstanding at Jan. 1, 202175,000
Incentive stock options (vested in 2020) outstanding throughout 2021 12,000(Each option is exercisable for one common share at an exercise price of $22.00)
Required:
Problem 1: Compute Stanley's basic and diluted earnings per share for the year ended December 31, 2021. (Enter your answers in thousands. Do not round intermediate calculations)
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