Lerner co. had the following securities outstanding during 2018: 200,000 shares of common stock
20,000 shares of convertible preferred stock
the preferred stock is convertible into 40,000 shares of common stock.
$600,000 of 10% convertible bonds
each $1,000 bond is convertible into 45 shares of common stock. during 2018, lerner paid dividends of $0.55 per share on the common stock and $1.80 per share on the preferred stock. the net income for 2018 was $360,000 and the income tax rate was 30%. 28. basic earnings per share for 2018 is (rounded to the nearest penny)

An increase in the market price of men's haircuts, from $16 per haircut to $26 per haircut, initially causes a local barbershop to have its employees work overtime to increase the number of daily haircuts provided from 20 to 25. when the $26 market price remains unchanged for several weeks and all other things remain equal as well, the barbershop hires additional employees and provides 40 haircuts per day. what is the short-run price elasticity of supply? nothing (your answer should have two decimal places.) what is the long-run price elasticity of supply? nothing (your answer should have two decimal places.)