Gold Coast Supplies had 80,000 shares of common stock outstanding at January 1 . On May 1 . Gold Coasts Supplies issued 21,500 shares of common stock. Outstanding all year were 30,000 shares of nonconvertible preferred stock on which a dividend of $3 per share was paid in December. Net income for the year was $300,000 . Gold Coast Supplies should report basic earnings per share for the year of
a. $2.07
b. $2.23
c. $3.18
d. $3.26
B
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a. true b. false