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Mechforce, Incorporated had net income of $105,200 for the year ended December 31,2022....

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Accounting

Mechforce, Incorporated had net income of $105,200 for the year ended December 31,2022. At the beginning of the year, 16,000 shares of common stock were outstandingOn April 1an additional 15,000 shares were issuedOn October the company purchased 5,000 shares of its own common stock and held them as treasury stock until the end of the yearNo other changes in common shares outstanding occurred during the yearDuring the yearMechforce paid the annual dividend on the 7,000 shares of 4.15%$100 par value preferred stock that were outstanding the entire year. Required: Calculate basic earnings per share of common stock for the year ended December 31,2022 Note: Do not round intermediate calculations . Round your answer to 2 decimal places

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