Liberty Ventures Inc. reported $209,840 profit in 2017 and declared preferred dividends of $34,400. The following changes
Question:
Liberty Ventures Inc. reported $209,840 profit in 2017 and declared preferred dividends of $34,400. 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 EPS calculations to two decimal places.)
Transcribed Image Text:
Jan. 1 60,000 common shares were outstanding. June 30 Sold 20,000 common shares. Sept. 1 Declared and issued a 20% common share dividend. Nov. 2 Sold 12,000 common shares.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (4 reviews)
Earnings per share Calculations Time Period JanuaryJune JulyAugust ProfitPreferred ...View the full answer
Answered By
Shadrack Mulunga
I am a Biochemistry by profession. However, I have explored different fields of study. My quest to explore new fields has helped me gain new knowledge and skills in Business, clinical psychology, sociology, organizational behavior and general management, and Project Management. I count my expertise in Project management, in particular, creation of Work Break Down Structure (WBS) and use of Microsoft Project software as one of my greatest achievement in Freelancing industry. I have helped thousands of BSC and MSC students to complete their projects on time and cost-effectively using the MS Project tool. Generally, I find happiness in translating my knowledge and expertise to success of my clients. So far, i have helped thousands of students to not only complete their projects in time but also receive high grades in their respective courses. Quality and timely delivery are the two key aspects that define my work. All those who hired my services always come back for my service. If you hire my services today, you will surely return for more. Try me today!
5.00+
154+ Reviews
289+ Question Solved
Related Book For
Fundamental Accounting Principles Volume 2
ISBN: 9781259087363
15th Canadian Edition
Authors: Kermit Larson, Heidi Dieckmann
Question Posted:
Students also viewed these Business questions
-
On Monday, November 2, Apple stock was trading at $110 per share. The average annualized implied volatility of Apple over the last two months was 0.42 (which should be used as your volatility input)....
-
The Assembly Department for Sandhill has the following production data for the current month. Beginning Work in Process -0- Units Completed and Transferred Out 24,000 The equivalent units of...
-
Henry rollers produces industry used rollers. Last year, the company produced 20 000 units and sold all but only 3 000 units left. The rollers sell for $205 each. Costs incurred are listed here....
-
(b) (i) What is the smallest natural number n, such that n!> 2" (ii) Prove that n !> 2" is true any natural number greater than or equal that number. (c) Given a finite set of natural numbers ACN....
-
Briefly describe the factors that are important to the management of an internal auditing department.
-
Consider the CD cover in Figure 5-61. A. Specify identifiers and attributes for the entities CD, ARTIST, ROLE, and SONG. B. Construct a crow's foot model showing relationships among these four...
-
Consider the following cash flow profile and assume MARR is 10 percent/year and the finance rate is 4 percent/ year. a. Determine the MIRR for this project. b. Is this project economically...
-
Auto pistons at Wemming Chung's plant in Shanghai are produced in a forging process, and the diameter is a critical factor that must be controlled. From sample sizes of 10 pistons produced each day,...
-
Which data model provides a user with the best "program-data independence"? A. Hierarchial Model B. Network Model C. Relational Model D. Entity Relationship Model Why?
-
Peter Puck Inc. showed the following adjusted information on May 31, 2017, its second year-end: a. Prepare the appropriate closing entries.b. Prepare a statement of changes in equity for the year...
-
Vector Gaming Ltd. showed the following equity account balances on December 31, 2017: On January 2, 2018, Vector declared and distributed a 3:1 share split. Prepare a comparative equity section...
-
Linden Company sells more than 100 different types of nuts, bolts, and screws. Each product has an identification number and is described by its type, size, and material composition. Each product is...
-
Outdoor active people that are appearance conscious. For all user, but the product will be most useful for Because the product function include protection from external pathogens, healing scars and...
-
Question 2 Ruth Langmore has recently been given an inheritance, and she decides to take this $250,000 of this money to invest in her new business venture wither her brother, Wyatt Langmore. The...
-
Your CEO from Assignment 1 bought you argument and has agreed that some type of crisis communications preparation is necessary. However, she has decided that is really not something that she needs to...
-
How many US dollars does a US importer need to pay for an invoice of 1 Million Yen when the price of 1 Yen is $0.006? If US dollar becomes stronger, will it hurt our export or our import?
-
How did the outcomes of Van Orden v. Perry, Minersville School District v. Gobitis, and Board of Education v. Barnette illustrates the balance between allowing freedom of religion and avoiding...
-
Answer the below questions. (a) What is a Build America Bond? (b) What is the current status of the federal government program authorizing the issuance of such bonds?
-
Prove the formula for (d/dx)(cos-1x) by the same method as for (d/dx)(sin-1x).
-
Wang Corp. estimates income tax expense to be $285,600 for the year 2023. Record estimated income tax for January on January 31, 2023, and the payment on February 1, 2023.
-
Assume Pebble Inc. on October 15 purchased $2,500 of merchandise on credit. The next day, it recorded sales of $1,700; cost of sales was $1,200. Record the October 15 and October 16 entries assuming...
-
Mercedes Boats borrowed $220,000 on September 15, 2023, for 45 days at 7% interest by signing a note. 1. On what date will this note mature? 2. How much interest expense is created by this note? 3....
-
Dividing a polynomial by a monomial: Multivariat Divide. (-8u^(7)x^(5)+14u^(2)x+18u^(6)x^(6))-:(2u^(5)x^(3)) Simplify your answer as much as possible.
-
Use the key features of the polynomial f(x)=-2x^(3)+5x^(2)-2x-3 to describe its end behavior.
-
Terri is analyzing a circle, y^(2) + x^(2) = 36, and a linear function g(x). Will they intersect?
Study smarter with the SolutionInn App