Class A preferred shares, 2 , 2 0 0 shares issued and outstanding at the beginning of
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Question:
Class A preferred shares,shares issued and outstanding at the beginning of the year; quarterly dividend rate of $per share, cumulative; each share is convertible intoshares of Class B common.
Class B common shares, shares issued and outstanding at the beginning of the year.
Also assume the following:
Net income for the year is $; there are no discontinued operations.
shares of Class A were converted into Class B shares on April X; dividends for the first quarter of the year were paid on March X
Options to issue common shares to senior executives for $ per share were outstanding during the entire year. No options were exercised during the year. The average share price during the year was $
Required:
Determine the weighted average number of shares outstanding during X
Determine basic EPS. Do not round intermediate calculations and round your answer todecimal places.
Determine diluted EPS. Do not round intermediate calculations and round your answer todecimal places.
Related Book For
Intermediate Accounting Volume 2
ISBN: 9781260881240
8th Edition
Authors: Thomas H. Beechy, Joan E. Conrod, Elizabeth Farrell, Ingrid McLeod-Dick, Kayla Tomulka, Romi-Lee Sevel
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