Labyrinth Ventures Inc. reported $209,840 net income in 2014 and declared preferred dividends of $34,400. The following

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Labyrinth Ventures Inc. reported $209,840 net income in 2014 and declared preferred dividends of $34,400. The following changes in common shares outstanding occurred during the year:

Calculate the weighted-average number of common shares outstanding during the year and earnings pershare.

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Fundamental Accounting Principles Volume II

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Authors: Larson Kermit, Jensen Tilly

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Question Posted: Jan 08, 2015 08:55 AM

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Labyrinth Ventures Inc. reported $209,840 net income in 2014 and declared preferred dividends of $34,400. The following

Question:

June Sept. Nov. 1 30 1 2 60,000 common shares were outstanding. Sold 20,000 common shares. Declared and issued a 20% common share dividend. Sold 12,000 common shares.

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