Consider the following:
Beginning number of outstanding shares of common stock - 1,100,000
Net income - $1,500,000
Ending number of outstanding shares of common stock - 1,300,000
Number of shares of treasury stock - 200,000
A) $1.50
B) $1.25
C) $1.20
D) $1.15
Answer: B) $1.25
Beginning number of outstanding shares of common stock - 1,100,000
Net income - $1,500,000
Ending number of outstanding shares of common stock - 1,300,000
Number of shares of treasury stock - 200,000
What is the earnings per share?
A) $1.50
B) $1.25
C) $1.20
D) $1.15
Answer: B) $1.25
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