For several years Orbon, Inc., has followed a policy of paying a cash dividend of $1.20 per

Question:

For several years Orbon, Inc., has followed a policy of paying a cash of $1.20 per share and having a 10% stock In the 2011 annual report, Orbon reported restated earnings per share for 2009 of $2.70.

Required:
a. Calculate the originally reported earnings per share for 2009. Round your answer to two decimal places.
b. Calculate the restated cash per share for 2009 reported in the 2011 annual report for comparative purposes. Round your answer to two decimal places.

Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...