Ace Company had 222,000 shares of common stock outstanding on December 31, 2015. During the...
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Ace Company had 222,000 shares of common stock outstanding on December 31, 2015. During the year 2016, the company issued 8,000 shares on May 1 and retired 14,000 shares on October 31. For the year 2016, Ace Company reported net income of $214,700 after a casualty loss of $43,100 (net of tax). What earnings per share data should be reported at the bottom of its income statement, assuming that the casualty loss is extraordinary? (Round answers to 2 decimal places, e.g. $2.55.)
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