JKL Corp. reported net income of $ XXXXXXXXXXfor 2014. The tax rate was 40%. As of 1/1/14, XXXXXXXXXXshares of common stock were outstanding. On 6/1/ XXXXXXXXXXnew shares were sold. There are no...

JKL Corp. reported net income of $1 000 000 for 2014. The tax rate was 40%. As of 1/1/14, 200 000 shares of common stock were outstanding. On 6/1/14 30 000 new shares were sold. There are no potentially dilutive securities outstanding but JKL has 2,000 shares of 8% cumulative preferred stock ($10 par) which was outstanding all year. Calculate the basic EPS