At January 1, 2017, Stevenson Inc. had the following shares authorized and issued: Jan 1 Common...
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At January 1, 2017, Stevenson Inc. had the following shares authorized and issued: Jan 1 Common shares issued Common shares authorized $9 cumulative preferred shares issued 59 cumulative preferred shares authorized 100,000 40,000 unlimited Jan 1 1,000 During 2017, Stevenson had the following share transactions: Feb 1 Apr 1 Aug 1 Dec 1 Issued 5,000 preferred shares Issued 20,000 common shares Issued 18,000 common shares Issued 6,000 common shares On December 31, Stevenson declared a $9 per share dividend on all issued preferred shares. Stevenson's 2017 profit was $435,000. Required: a) Calculate the weighted average number of common shares in 2017 b) Calculate the profit available to common shareholders for 2017 c) Calculate the 2017 earnings per share At January 1, 2017, Stevenson Inc. had the following shares authorized and issued: Jan 1 Common shares issued Common shares authorized $9 cumulative preferred shares issued 59 cumulative preferred shares authorized 100,000 40,000 unlimited Jan 1 1,000 During 2017, Stevenson had the following share transactions: Feb 1 Apr 1 Aug 1 Dec 1 Issued 5,000 preferred shares Issued 20,000 common shares Issued 18,000 common shares Issued 6,000 common shares On December 31, Stevenson declared a $9 per share dividend on all issued preferred shares. Stevenson's 2017 profit was $435,000. Required: a) Calculate the weighted average number of common shares in 2017 b) Calculate the profit available to common shareholders for 2017 c) Calculate the 2017 earnings per share
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Related Book For
Financial Reporting and Analysis
ISBN: 978-1259722653
7th edition
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
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