(Answered) Problem - carmen company reported 5575 million in net

Accounting

Problem - Carmen Company reported 557.5 million in net income in 2010. Then on January 1, 2010 the company had 600 million shares of common stock outstanding. On April 1, 2010 34 million shares of common stock were sold for cash. On June 1, 2010 Carmen Company's stock split 2 for 1. On July 2010 9 million shares were reacquired as treasury stock.

Requirements: Compute Carmen Company's Earnings per Share for the year ended December 31, 2010.

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