Big Blue University has a fiscal year that ends on June 30. The 2010 summer session of the university runs from June 8 through July 27. Total tuition paid by students for the summer session amounted to $111,000.

(a) How much revenue should be reflected in the fiscal year ended June 30, 2010?

Ringemup, Inc. had net income of $473,300 for its fiscal year ended October 31, 2010. During the year the company had outstanding 38,000 shares of $3.40, $45 par value preferred stock, and 107,000 shares of common stock.

Calculate the basic earnings per share of common stock for fiscal 2010.