Capital Consulting Company had 400,000 shares of common stock outstanding on December 31,2016.On that date,there were also 5,000 shares of $100 par,6% noncumulative preferred stock outstanding.On March 1,2016,the company's common stock split 3-for-1.On December 15,2016,a preferred dividend was declared and paid in the amount of $25,000.Net income for 2016 was $3,000,000.
Required:
Compute basic earnings per share (rounded to 2 decimal places)for the year ended December 31,2016.

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The Answer of Capital Consulting Company had 400,000 shares of common stock outstanding on December 31,2016.On that date,there were also 5,000 shares of $100 par,6% noncumulative preferred stock outstanding.On March 1,2016,the company's common stock split 3-for-1.On December 15,2016,a preferred dividend was declared and paid in the amount of $25,000.Net income for 2016 was $3,000,000.
Required:
Compute basic earnings per share (rounded to 2 decimal places)for the year ended December 31,2016.

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