(Answered) Question - the heath corporation reported net income for

Accounting

Question - The heath corporation reported net income for 2008 of $177,500. Heath began the year with 100,000 shares of $5 par value common shares outstanding and 2,500 shares of $100 par value 8% preferred shares outstanding. On October 1, Heath sold 10,000 shares of common stock for $6 per share. Heath paid dividends to the common shareholders in December. What are the basic earnings per share?

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