$1$

$2$

points

References

On December $31,2023,$ Dow Steel Corporation had $720,000$ shares of common stock and $42,000$ shares of $8\%,$ noncumulative, nonconvertible preferred stock issued and outstanding.

Dow issued a $4\%$ common stock dividend on May $15$ and paid cash dividends of $$520,000$ and $$81,000$ to common and preferred shareholders, respectively, on December $15,2024.$

On February $28,2024,$ Dow sold $66,000$ common shares.

In keeping with its long$-$term share repurchase plan, $8,000$ shares were retired on July $1.$

Dow's net income for the year ended December $31,2024,$ was $$2,700,000.$ The income tax rate is $25\%.$

Required:

Compute Dow's earnings per share for the year ended December $31,2024.$

Note: Do not round intermediate calculations. Except for per share amounts, enter your answers in thousands $($i$.$e$.,10,000$ should be entered as $10).$ Round "Earnings per share" answer to $2$ decimal places.

$\backslash$table$[[$Numerator$,,$Denominator,$=,$Earnings per share$],[,,,=-,]]$

$1$

$2$

points

On December $31,2023,$ Dow Steel Corporation had $720,000$ shares of common stock and $42,000$ shares of $8\%,$ noncumulative, nonconvertible preferred stock issued and outstanding.

Dow issued a $4\%$ common stock dividend on May $15$ and paid cash dividends of $$520,000$ and $$81,000$ to common and preferred shareholders, respectively, on December $15,2024.$

On February $28,2024,$ Dow sold $66,000$ common shares.

In keeping with its long$-$term share repurchase plan, $8,000$ shares were retired on July $1.$

Dow's net income for the year ended December $31,2024,$ was $$2,700,000.$ The income tax rate is $25\%.$

Required:

Compute Dow's earnings per share for the year ended December $31,2024.$

Note: Do not round intermediate calculations. Except for per share amounts, enter your answers in thousands $($i$.$e$.,10,000$ should be entered as $10).$ Round "Earnings per share" answer to $2$ decimal places.

$\backslash$table$[[$Numerator$,+,$Denominator,$=,$Earnings per share$],[,+,,=+,]]$

$2$

The Li Group had $190,000$ shares of common stock outstanding at January $1,2024.$ The following activities

$2$

points

References affected common shares during the year. There are no potential common shares outstanding.

$2024$

February $28$ Purchased $15,000$ shares of treasury stock. $0$ctober $31$ Sold the treasury shares purchased on February $28.$ November $30$ Issued $60,000$ new shares. December $31$ Net income for $2024$ is $$1,665,000.2025$

January $15$ Declared and issued a $2-$for$-1$ stock split. December $31$ Net income for $2025$ is $$1,665,000.$

Required:

Determine the $2024$ EPS.

Determine the $2025$ EPS.

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 $10).$

$\backslash$table$[[$Numerator$,+$ Denominator,$=,$Earnings per Share$],[1.,,+,=,],[2.,,+,,=$