For several years Orbon Inc. has followed a policy of paying a cash dividend of $0.45 per
Question:
For several years Orbon Inc. has followed a policy of paying a cash dividend of $0.45 per share and having a 10% stock dividend. In the 2023 annual report, Orbon reported restated earnings per share for 2021 of $2.70.
Required:
a. Calculate the originally reported earnings per share for 2021. Round your answer to two decimal places.
b. Calculate the restated cash dividend per share for 2021 reported in the 2023 annual report for comparative purposes. Round your answer to two decimal places.
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Step by Step Answer:
a The key here is to see that the 270 EPS figure has already been restated so ...View the full answer
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