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Assume that the following data relative to Kane Company for 2015 is available:

Author:
June 7th, 2024

Assume that the following data relative to Kane Company for 2015 is available:Net Income$2,800,000Transactions in Common SharesChangeCumulativeJan. 1, 2015, Beginning number670,000Mar. 1, 2015, Purchase of treasury shares(67,200)602,800June 1, 2015, Stock split 2-1602,8001,205,600Nov. 1, 2015, Issuance of shares228,0001,433,6008% Cumulative Convertible Preferred StockSold at par, convertible into 210,000 shares of common (adjusted for split).$1,050,000Stock OptionsExercisable at the option price of $25 per share. Average market price in 2015, $30 (market price and option price adjusted for split).90,000shares Compute weighted-average shares outstanding for 2015.Weighted-average shares outstanding Compute the basic earnings per share for 2015. (Round answer to 2 decimal places, e.g. 52.75.)Basic earnings per share$ Compute the diluted earnings per share for 2015. (Round answer to 2 decimal places, e.g. 52.75.)Diluted earnings per share$

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