Angelo Ltd., a public company, had 516,000 common shares outstanding at the beginning of 20X4. On...
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Angelo Ltd., a public company, had 516,000 common shares outstanding at the beginning of 20X4. On 1 March 20X4, Angelo purchased and retired 162,000 shares that had been owned by one of the company founders. On 30 June, the company issued 85,200 shares to a venture capital firm upon maturity of a $142,000 7% mandatorily convertible debenture. On 30 September, the company issued 150,000 new shares for cash. Angelo Ltd.'s after-tax 20X4 earnings amounted to $1,041,131. Required: Compute basic EPS. (Do not round intermediate calculations and round your answer to 2 decimal places.) Basic EPS Angelo Ltd., a public company, had 516,000 common shares outstanding at the beginning of 20X4. On 1 March 20X4, Angelo purchased and retired 162,000 shares that had been owned by one of the company founders. On 30 June, the company issued 85,200 shares to a venture capital firm upon maturity of a $142,000 7% mandatorily convertible debenture. On 30 September, the company issued 150,000 new shares for cash. Angelo Ltd.'s after-tax 20X4 earnings amounted to $1,041,131. Required: Compute basic EPS. (Do not round intermediate calculations and round your answer to 2 decimal places.) Basic EPS
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Related Book For
Principles of Taxation for Business and Investment Planning 2019 Edition
ISBN: 9781260161472
22nd edition
Authors: Sally Jones, Shelley C. Rhoades-Catanach, Sandra R Callaghan
Posted Date:
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