Problem
Knotworth Gedding Consulting Company had 480,000 shares of common stock outstanding on December 31, 2023. On that date, there were also 5,800 shares of $100 par, 7% noncumulative preferred stock outstanding. On March 1, 2024, the company's common stock split 4-for-1. On December 15, 2024, a preferred dividend was declared and paid in the amount of $33,000. Net income for 2024 was $3,800,000.
Task:
Compute basic earnings per share for the year ended December 31, 2024.