On January 1,2016,Algerian Delivery Had 100,000 Shares of Common Stock

question 139

Essay

On January 1,2016,Algerian Delivery had 100,000 shares of common stock outstanding.The following transactions occurred during 2016:
March 1: Reacquired 3,000 shares,accounted for as treasury stock.
September 30: Sold all the treasury shares.
December 1: Sold 12,000 new shares for cash.
December 31: Reported a net income of $297,750.
Required:
Calculate Algerian Delivery's basic earnings per share for the year ended December 31,2016.

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Definitions:

Basic Unit

the simplest, most fundamental constituent, component, or structure in a system that defines its properties and functions.

Cells

The basic building blocks of all living organisms, ranging from single-celled bacteria to complex multicellular animals and plants.

Earth

The third planet from the Sun, characterized by its vast oceans, diverse ecosystems, and unique ability to support life.

Actin Filaments

Protein filaments in muscle cells and other cells that are primarily involved in the contraction and movement processes.