On December 31, 2020, Brisbane Company had 100,000 shares of common stock outstanding and 29,000 shares of 6%, $50 par, cumulative preferred stock outstanding. On February 28, 2021, Brisbane purchased 23,000 shares of common stock on the open market as treasury stock paying $39 per share. Brisbane sold 5,900 treasury shares on September 30, 2021, for $44 per share. Net income for 2021 was $179,905. Also outstanding during the year were fully vested incentive stock options giving key officers the option to buy 49,000 common shares at $39. The market price of the common shares averaged $49 during 2021.
Required:
Compute Brisbane's basic and diluted earnings per share for 2021.
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On December 31, 2020, Brisbane Company had 100,000 shares of common stock outstanding and 29,000 sha...
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