Maneesh 30 April 2020 at 16:11 PM

Haris Corporation reported earnings for calendar year 2007 of $3 per common share based on net income of
$3,000,000 and 1,000,000 average shares of common stock outstanding. There were 1,000,000 common shares
outstanding on December 31, 2007. In 2008 the common stock was split on a two-for-one basis, and a 20% stock
dividend was distributed in 2009. The Basic EPS reported for 2007 in the 2010 annual report should be reported as
A) 2.5
B)1.25
C) 3
D)1.5