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What would the company basic earnings per share be for 2011

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Reference no: EM13917963

An analyst gathered the following information about a company whose fiscal year end is December 31:

• Net income for the year was $10.5 million.

• Preferred stock dividends for $2 million were declared and paid for the year.

• Common stock dividends of $3.5 million were paid for the year.

• There were 20 million shares of common stock outstanding on January 1, 2011.

• The company issued 6 million new shares of common stock on April 1, 2011.

• The capital structure does not include any potentially dilutive convertible securities, options, warrants, or other contingent securities.

What would the company's basic earnings per share be for 2011? Show calculations.

Reference no: EM13917963

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