The Li Group had 290,000 shares of common stock outstanding at January 1, 2024. The following...

 

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The Li Group had 290,000 shares of common stock outstanding at January 1, 2024. The following activities affected common shares during the year. There are no potential common shares outstanding. 2024 February 28 Purchased 15,000 shares of treasury stock. October 31 Sold the treasury shares purchased on February 28. November 30 Issued 60,000 new shares. December 31 Net income for 2024 is $1,140,000. 2825 January 15 Declared and issued a 2-for-1 stock split. December 31 Net income for 2025 is $1,140,000. Required: 1. Determine the 2024 EPS. 2. Determine the 2025 EPS. 3. At what amount will the 2024 EPS be presented in the 2025 comparative financial statements? Note: Do not round intermediate calculations. Enter your answers in thousands (i.e., 10,000 should be entered as 10). The Li Group had 290,000 shares of common stock outstanding at January 1, 2024. The following activities affected common shares during the year. There are no potential common shares outstanding. 2024 February 28 Purchased 15,000 shares of treasury stock. October 31 Sold the treasury shares purchased on February 28. November 30 Issued 60,000 new shares. December 31 Net income for 2024 is $1,140,000. 2825 January 15 Declared and issued a 2-for-1 stock split. December 31 Net income for 2025 is $1,140,000. Required: 1. Determine the 2024 EPS. 2. Determine the 2025 EPS. 3. At what amount will the 2024 EPS be presented in the 2025 comparative financial statements? Note: Do not round intermediate calculations. Enter your answers in thousands (i.e., 10,000 should be entered as 10).

Answer rating: 100% (QA)

To calculate the earnings per share EPS for both 2024 and 2025 we need Determine the weighted averag... View the full answer