Burns Company Reported $752

question 144

Essay

Burns Company reported $752.4 million in net income in 2016.On January 1,2016,the company had 400 million shares of common stock outstanding.On March 1,2016,24 million new shares of common stock were sold for cash.On June 1,2016,the company's common stock split 2 for 1.On July 1,2016,8 million shares were reacquired as treasury stock.
Required:
Compute Burns' basic earnings per share for the year ended December 31,2016.

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Definitions:

Prefrontal Area

A region in the frontal lobes of the brain implicated in planning complex cognitive behavior, personality expression, and moderating social behavior.

Broca's Area

A region in the frontal lobe of the dominant hemisphere (usually the left) of the brain with functions linked to speech production.

Pons

A structure in the brainstem involved in regulating vital functions, such as breathing, as well as roles in sleep and sensory processing.

Human Bladders

Organ in the human body that stores urine before it is excreted.