Give me true answer the financial accounting question please answer do fast and step by step calculation For the year ended 31 December 2009, Shopalot Companyhad a net income of $1,950,000. The companyhad 1,500,000 shares of common stock outstanding, nopreferred stock, and no convertible financial instruments.What is Shop alot's basic EPS?

Step 1: Information givenNet Income = $1,950,000Number of Shares of Common Stock = 1,500,000Step 2:…

Answered: For the year ended 31 December 2009,…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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For the year ended 31 December 2009, Shopalot Company had a net income of $1,950,000. The company had 1,500,000 shares of common stock outstanding, no preferred stock, and no convertible financial instruments. What is Shop alot's basic EPS?