Question

Id	463
Number	7
Description	For 2009, Flamingo Products had net income of USD1,000,000. At 1 Januar y 2009, there were 1,000,000 shares outstanding. On 1 July 2009, the company is- sued 100,000 new shares for USD20 per share. The company paid USD200,000 in dividends to common shareholders. What is Flamingo’s basic earnings per share for 2009?