Assume that the following data relative to Oniole Company for 2025 is available:
Net Income
$2,830,590
Transactions in Common Shares
Change Cumulative
Jan. 1, 2025, Beginning number
690,000
Mar. 1, 2025, Purchase of treasury shares
(50,400)
639,600
June 1, 2025, Stock split 2-1
639,600
1,279,200
Nov. 1, 2025, Issuance of shares
246,000
1,525,200
6% Cumulative Convertible Preferred Stock
Sold at par, convertible into 210,000 shares of
common (adjusted for split).
$1,050,000
Stock Options
Exercisable at the option price of $25 per share. Average
market price in 2025, $30 (market price and option price
adjusted for split).
96,000 shares
(a)
Compute the basic earnings per share for 2025. (Round answer to 2 decimal places, e.g. 52.75.)
Basic earnings per share
$