3. On January 1, 2021, Sealed Air had 100,000 shares of common stock outstanding. The following transactions occurred during 2021
3. On January 1, 2021, Sealed Air had 100,000 shares of common stock outstanding. The following transactions occurred during 2021
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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3. On January 1, 2021, Sealed Air had 100,000 shares of common stock outstanding. The following transactions occurred during 2021:
March | 1: | Reacquired 2,400 shares, accounted for as |
||
September | 30: | Sold all the treasury shares. | ||
December | 1: | Sold 11,400 new shares for cash. | ||
December | 31: | Reported a net income of $291,750. |
Required:
Calculate Sealed Air's basic earnings per share for the year ended December 31, 2021. (Round your answer to 2 decimal places.)
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