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On January 1, 2018, Shamu Corporation had 100,000 shares of common stock outstanding. The following...

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Accounting

On January 1, 2018, Shamu Corporation had 100,000 shares of common stock outstanding. The following transactions occurred during 2018:

March 1: Reacquired 3,600 shares, accounted for as treasury stock.
September 30: Sold all the treasury shares.
December 1: Sold 12,600 new shares for cash.
December 31: Reported a net income of $204,500.

The following transactions occurred during 2019:

January 10: Declared and issued a 30% stock dividend.
December 31: Reported a net income of $274,800.

Required: Calculate Shamu's basic earnings per share for both years for presentation in comparative financial statements that will be prepared at the end of 2019. (Round your answers to 2 decimal places.)

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2018 2019 Earnings per share 1.59 S 1.89

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