Sparrow Company had net income of $63,000. The company had 9,000 weighted average ordinary shares outstanding. The basic earnings per share equal $7.00 per share.

Name: Sparrow Company had net income of $63,000. The company had 9,000 weighted average ordinary shares outstanding. The basic earnings per share equal $7.00 per share.
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Basic earnings per share is calculated by dividing net income by the weighted average number of ordinary shares outstanding. $63,000 divided by 9,000 equals $7.00 per share.

Sparrow Company Had Net Income of $63,000