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An analyst gathered the following information about a company whose fiscal year end is December 31:⢠Net income for the year was $10.5 million.⢠Preferred stock dividends of $2 million were paid for the year.⢠Common stock dividends of $3.5 million were paid for the year.⢠20 million shares of common stock were outstanding on January 1, 2001.⢠The company issued 6 million new shares of common stock on April 1, 2001.⢠The capital structure does not include any potentially dilutive convertible securities, options, warrants, or other contingent securitiesThe company’s basic earnings per share for 2001 was closest to….
