During the year ended December 31, 2011, Stickit, Inc., split its stock on a 4-for-1 basis. In its annual report for 2010, the firm reported net income of $980,200 for 2010, with an average 217,800 shares of common stock outstanding for that year. There was no preferred stock.
Required:
(a)What amount of net income for 2010 will be reported in Stickit's 2011 annual report? (Omit the "tiny_mce_markerquot; sign in your response.)
Net Income $
(b)Calculate Stickit's earnings per share for 2010 that would have been reported in the 2010 annual report.(Round your answer to 2 decimal places. Omit the "tiny_mce_markerquot; sign in your response.)
Earnings per share $
(c)Calculate Stickit's earnings per share for 2010 that will be reported in the 2011 annual report for comparative purposes. (Round your answer to 2 decimal places. Omit the "tiny_mce_markerquot; sign in your response.)
Earnings per share $