On January 1, 2012, Chang Corp. had 514,000 shares of common stock outstanding. During 2012, it had the following transactions that affected the Common Stock account.


February 1 Issued 148,000 shares
March 1 Issued a 20% stock dividend
May 1 Acquired 112,000 shares of treasury stock
June 1 Issued a 3-for-1 stock split
October 1 Reissued 63,500 shares of treasury stock

Assume the same facts as in part (b), except that net income included an extraordinary gain of $907,000 and a loss from discontinued operations of $446,000. Both items are net of applicable income taxes. Compute earnings per share for 2012. (Round answer to 2 decimal places, e.g. $2.55.)



Chang Corp.
Income Statement
For the year ended December 31, 2012



Assume the same facts as in part (b), except that net income included an extraordinary gain of $907,000 and a loss from discontinued operations of $446,000. Both items are net of applicable income taxes. Compute earnings per share for 2012.

Part b info:
Assume that Chang Corp. earned net income of $3,287,000 during 2012. In addition, it had 113,000 shares of 10%, $103 par nonconvertible, noncumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the company did not declare and pay a preferred dividend in 2012. Compute earnings per share for 2012, using the weighted-average number of shares determined in part (a). (Round answer to 2 decimal places, e.g. $2.55.)