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Crystal arts inc had earnings of 476500 for 2012 the

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Crystal Arts, Inc., had earnings of $476,500 for 2012. The company had 55,000 shares of common stock outstanding during the year. In addition, the company issued 2,900 shares of $100 par value preferred stock on January 3, 2012. The preferred stock has a dividend of $5 per share. There were no transactions in either common or preferred stock during 2012.

Determine the basic earnings per share for Crystal Arts. Round answer to the nearest cent.

Reference no: EM13600865

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