Problem:
SCR Company had 600,000 shares of common stock outstanding on December 31, 2013. During the year 2014 the company acquired and then retired 15,000 shares on April 1 and issued 50,000 shares on July 31. For the year 2012 SCR Company reported net income of $982,500, after an extraordinary gain of $300,000 (net of tax).
Instructions:
Question: What earnings per share data should be reported at the bottom of its income statement?
Note: Please provide reasons to support your answer.