Horticultural Products Inc. reported $928,470 profit in 2020 and declared preferred dividends of $74,600. The following changes

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Horticultural Products Inc. reported $928,470 profit in 2020 and declared preferred dividends of $74,600. The following changes in common shares outstanding occurred during the year.

Calculate the weighted-average number of common shares outstanding during the year and earnings per share. Round calculations to two decimal places.

Analysis Component: What is the effect of a share dividend on earnings per share?

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Fundamental Accounting Principles Volume II

ISBN: 978-1260305838

16th Canadian edition

Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann

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Question Posted: Dec 17, 2019 12:17 PM

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Horticultural Products Inc. reported $928,470 profit in 2020 and declared preferred dividends of $74,600. The following changes

Question:

75,000 common shares were outstanding. Declared and issued a 14% common share dividend. 1 Jan. Mar. Sold 30,000 common shares. Sold 30,000 common shares. Aug. Nov.

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Earnings per share Profit Preferred Dividends WeightedAverage Common Sh...View the full answer

Fundamental Accounting Principles Volume II

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