Problem:
Assume there are 600,000 shares of common stock authorized by ABC Corporation. Of those, 500,000 shares have been issued. Later, 100,000 shares of the issued shares were repurchased by ABC Corporation and are currently held as Treasury Stock. Net Income for the year was $1,600,000. There are no preferred dividends.
Required:
Question: Calculate the earnings per share (eps).
Note: Please show guided help with steps and answer.