Multiple Choice
FED had 100 common shares issued and outstanding at December 31,2013.On July 1,2014,FED issued a 10 percent stock dividend.Unexercised stock options to purchase 20 common shares (adjusted for 2014 stock dividends) at $20 per share were outstanding at the beginning and end of 2014.The average market price of FED'S common shares (which was not affected by the stock dividend) was $25 per share during 2014.The ending market price was $30.Net income for the year ended December 31,2014,was $2,200.What was FED'S 2014 basic earnings per share,rounded to the nearest cent?
A) $16.92
B) $18.33
C) $20.00
D) $22.00
Correct Answer:
Verified
Correct Answer:
Verified
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