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The following information pertains to ABC Corp.'s outstanding stock for 2008: The net income was $250,000.

Common stock, $1 par value

Shares outstanding, 1/1/08 10,000

2-for-1 stock split, 4/1/08 10,000

Shares issued, 8/1/08 5,000

Preferred stock, $20 par value, 6% cumulative

Shares outstanding, 1/1/08 4,000

How many shares should ABC Corp. use to find out 2008 basic EPS?

How much is basic earnings per share?

Accounting Basics, Accounting

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