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What amount should be reported as basic earnings per share

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Problem 1: On January 1, 2020, Marshall Company had 320,000 ordinary shares and 160,000 4% ?100 par value cumulative preference shares outstanding. No dividends were declared on either the preference or ordinary shares in 2019 or 2020. On February 10, 2021, prior to the issuance of the financial statements for the year ended December 31, 2020, the entity declared a 100% share split on ordinary shares. Net income for 2020 was ?12,000,000. What amount should be reported as basic earnings per share?

Reference no: EM132772276

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