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Find what amount should be reported as basic earnings

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Reference no: EM132543978

On January 1, 2019, Shane Company had 100,000 ordinary shares outstanding. The following transactions occurred during 2019.

March 1 reacquired 3,000 shares accounted for as treasury.

September 1 sold all treasury shares.

December 1 sold 66,000 new shares for cash.

December 31 reported a net income of 2,600,000.

The following transactions occurred during 2020.

January 15 declared and issued a 25% share dividend.

December 31 reported a net income of 4,000,000

Question 1. What amount should be reported as basic earnings per share for 2019 for presentation in comparative financial statements on December 31,2020?

a. 15.66

b. 20.00

c. 20.80

d. 19.90

Question 2. What amount should be reported as basic earnings per share for 2020 for presentation in comparative financial statements on December 31, 2020?

a. 24.10

b.19.28

c. 30.77

d. 32.00

Reference no: EM132543978

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