JS is a new accountant at Petty Enterprises and is preparing the Year 2 comparative financial statements. JS determined that basic and diluted earnings per share are the same amount for Year 2, but not Year 1. Which section of the authoritative guidance best describes the periods for which both basic and diluted earnings per share must be presented? Enter your response in the answer fields below. Guidance on correctly structuring your response appears above and below the answer fields. Unless specifically requested, your response should not cite implementation guidance.
