On the first day of 2021, Paccar had 100,000 shares of common stock outstanding. The following transactions occurred during 2021: March 1: Reacquired 2,700 shares, accounted for as treasury stock. September 30: Sold all the treasury shares. December 1: Sold 11,700 new shares for cash. December 31: Reported a net income of $294,750. Required: Calculate Paccar's basic earnings per share for the year ended December 31, 2021. (Round your answer to 2 decimal places.)
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On the first day of 2021, Paccar had 100,000 shares of common stock outstanding. The following transactions occurred during 2021:
March | 1: | Reacquired 2,700 shares, accounted for as |
||
September | 30: | Sold all the treasury shares. | ||
December | 1: | Sold 11,700 new shares for cash. | ||
December | 31: | Reported a net income of $294,750. |
Required:
Calculate Paccar's basic earnings per share for the year ended December 31, 2021. (Round your answer to 2 decimal places.)
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