Vincent Corporation began operations on January 1,2017.On January 1,2017,Vincent Corporation issued 2,000 shares of $5,cumulative preferred shares.In addition,on January 1,2017,Vincent Corporation issued 5,000 common shares at $15 per share.On June 30,2017,an additional 2,500 common shares were issued to investors in exchange for land with a current market value of $40,000.On October 1,2017,Vincent Corporation reacquired 1,000 of its own common shares at $17.50 per share.No dividends have been declared during 2017 by Vincent Corporation.The net income for the first year of operations is $550,000.
Compute earnings per share for 2017 for Vincent Corporation.

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The Answer of Vincent Corporation began operations on January 1,2017.On January 1,2017,Vincent Corporation issued 2,000 shares of $5,cumulative preferred shares.In addition,on January 1,2017,Vincent Corporation issued 5,000 common shares at $15 per share.On June 30,2017,an additional 2,500 common shares were issued to investors in exchange for land with a current market value of $40,000.On October 1,2017,Vincent Corporation reacquired 1,000 of its own common shares at $17.50 per share.No dividends have been declared during 2017 by Vincent Corporation.The net income for the first year of operations is $550,000.
Compute earnings per share for 2017 for Vincent Corporation.

Vincent Corporation Began Operations on January 1,2017