Question - During the year ended December 31, 2014, Gluco, Inc., split its stock on a 4-for-1 basis. In its annual report for 2013, the firm reported net income of $916,900 for 2013, with an average 232,300 shares of common stock outstanding for that year. There was no preferred stock.
Required:
a. What amount of net income for 2013 will be reported in Gluco's 2014 annual report?
b. Calculate Gluco's earnings per share for 2013 that would have been reported in the 2013 annual report.