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Rockford Co. had 1,150,000 shares of common stock outstanding on January 1 and December 31,...

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Rockford Co. had 1,150,000 shares of common stock outstanding on January 1 and December 31, 2021. In connection with the acquisition of a subsidiary company in 2020, Rockford is required to issue 200,000 additional shares of its common stock on July 1,2021 , to the former owners of the subsidiary. Rockford paid $100,000 in preferred stock dividends in 2021 , and reported net income of $1,700,000 for the year. Rockford's basic EPS for 2021 will be: a. $1.42 b. $1.36 c. $1.34 d. $1.28

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