A Corporation Reported 19X1 Net Income of $156,000

Multiple Choice

A corporation reported 19X1 net income of $156,000. On January 1, 19X1, 60,000 shares of common stock were outstanding. An additional 10,000 shares were sold and issued on April 1 and, 5,000 shares were purchased and retired on October 1. Earnings per share (rounded to the nearest cent) are:

A) $2.32.
B) $2.35.
C) $2.40.
D) $2.60.