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At December 31,2014,the Carboneer Company Had 150,000 Shares of Common

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At December 31,2014,the Carboneer Company had 150,000 shares of common stock issued and outstanding.On April 1,2015,an additional 30,000 shares of common stock were issued.Carboneer's net income for the year ended December 31,2015,was $517,500.During 2015,Carboneer declared and paid $300,000 in cash dividends on its nonconvertible preferred stock.The basic earnings per common share,rounded to the nearest penny,for the year ended December 31,2015,should be

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Definitions:

Base Year

A specific year against which economic growth, prices, or other data are measured and compared in terms of indices or other statistical measurements.

Basket Of Goods

A collection of products or services considered representative for purposes of measuring inflation or cost of living.

Base Year

A specific year against which economic or financial data is compared to measure changes and trends over time.

Price

The amount of money required to purchase a good, service, or asset.

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