Swimtech Pools Incorporated (SPI) reported the following in its financial statements for the quarter ended March...
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Swimtech Pools Incorporated (SPI) reported the following in its financial statements for the quarter ended March 31, 2021. Common Stock, $1 par, 55,000 shares issued and outstanding December 31, 2020 $ 55,000 33,000 22,000 March 31, 2021 $ 55,000 33,000 22,000 Additional Paid-In Capital Retained Earnings Total Stockholders' Equity $ 110,000 $ 110,000 During the quarter ended March 31, SPI reported Net Income of $8,250 and declared and paid cash dividends totaling $8,250. Required: 1. Calculate earnings per share (EPS) and return on equity (ROE) for the quarter ended March 31. 2. Assume SPI repurchases 10,500 of its common stock at a price of $2 per share on April 1, 2021. Also assume that during the quarter ended June 30, 2021, SPI reported Net Income of $8,250 and declared and paid cash dividends totaling $8,250. Calculate earnings per share (EPS) and return on equity (ROE) for the quarter ended June 30, 2021. Swimtech Pools Incorporated (SPI) reported the following in its financial statements for the quarter ended March 31, 2021. Common Stock, $1 par, 55,000 shares issued and outstanding December 31, 2020 $ 55,000 33,000 22,000 March 31, 2021 $ 55,000 33,000 22,000 Additional Paid-In Capital Retained Earnings Total Stockholders' Equity $ 110,000 $ 110,000 During the quarter ended March 31, SPI reported Net Income of $8,250 and declared and paid cash dividends totaling $8,250. Required: 1. Calculate earnings per share (EPS) and return on equity (ROE) for the quarter ended March 31. 2. Assume SPI repurchases 10,500 of its common stock at a price of $2 per share on April 1, 2021. Also assume that during the quarter ended June 30, 2021, SPI reported Net Income of $8,250 and declared and paid cash dividends totaling $8,250. Calculate earnings per share (EPS) and return on equity (ROE) for the quarter ended June 30, 2021.
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