Capital Consulting Company had 400,000 shares of common stock outstanding on December 31, 2013. On that date, there were also 5,000 shares of $100 par, 6% noncumulative preferred stock outstanding. On March 1, 2013, the company's common stock split 3-for-1. On December 15, 2013, a preferred dividend was declared and paid in the amount of $25,000. Net income for 2013 was $3,000,000.
Required:
Compute basic earnings per share (rounded to 2 decimal places) for the year ended December 31, 2013.

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The Answer of Capital Consulting Company had 400,000 shares of common stock outstanding on December 31, 2013. On that date, there were also 5,000 shares of $100 par, 6% noncumulative preferred stock outstanding. On March 1, 2013, the company's common stock split 3-for-1. On December 15, 2013, a preferred dividend was declared and paid in the amount of $25,000. Net income for 2013 was $3,000,000.
Required:
Compute basic earnings per share (rounded to 2 decimal places) for the year ended December 31, 2013.

Capital Consulting Company Had 400,000 Shares of Common Stock Outstanding