Question: On January 1 the company had 100 000 common shares outstanding On

On January 1, the company had 100,000 common shares outstanding. On April 1, the company issued 30,000 additional shares. On August 1, the company performed a 2-for-1 stock split. The company also had 10,000 shares of 8%, $50 par preferred stock outstanding throughout the year. The company declared the required preferred dividend during the year. Net income for the year was $300,000. Compute basic earnings per share.

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  • CreatedJanuary 28, 2012
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