During the year ended December $31,2023,$ Gluco Incorporated split its stock on a $5-$for$-1$ basis. In its annual report for $2022,$ the firm reported net income of $$950,900$ for $2022,$ with an average $211,300$ shares of common stock outstanding for that year. There was no preferred stock.

Required:

What amount of net income for $2022$ will be reported in Gluco's $2023$ annual report?

Calculate Gluco's earnings per share for $2022$ that would have been reported in the $2022$ annual report.

Note: Round your answer to $2$ decimal places.

Calculate Gluco's earnings per share for $2022$ that will be reported in the $2023$ annual report for comparative purposes.

Note: Round your answer to $2$ decimal places.

Answer rating: 100% (QA)

To calculate the amount of net income for 2022 reported in Glucos 2023 annual report and the earning... View the full answer