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What should bramble report as earnings per share for 2018

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Question

Bramble Corp. purchased Cullumber Company and agreed to give stockholders of Cullumber Company 49400 additional shares in 2020 if Cullumber Company's net income in 2019 is $594000 or more; in 2018 Cullumber Company's net income is $617000. Bramble has net income for 2018 of $1507000 and has an average number of common shares outstanding for 2018 of 498000 shares. What should Bramble report as earnings per share for 2018? (rounded to the nearest penny)

Reference no: EM132385700

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