Murray Company reports net income of $992,000 for the year. It has no preferred stock, and its weighted-average common shares outstanding is 320,000 shares. Compute its basic earnings per share.

Below are the steps in the measurement process of external transactions. arrange them from first (1) to last (6). event step post transactions to the general ledger. assess whether the transaction results in a debit or credit to account balances. use source documents to identify accounts affected by an external transaction. analyze the impact of the transaction on the accounting equation. prepare a trial balance. record the transaction in a journal using debits and credits.