For the year ended December 31, 2012, Joey Co. reported Net Income of $655,000. At January 1, 2012 the company had 900,000 shares of common stock outstanding. At December 31, 2012, Joey Co had what is described as a "Simple Capital Structure." The following changes in the number of shares occurred during 2012:
- April 1: Sold 60,000 shares of common stock.
- May 31: Declared and Distributed a 5% Stock Dividend
- July 1: Issued 72,000 shares of common stock
1. Compute Joey Co's earnings per share for the year ended December 31, 2012 .
2. Given the facts as presented above, Joey Co would have to report Diluted EPS at 12/31/2012. TRUE or FALSE [Circle One]