At January 1, 2021, Waterway Corporation had the following share capital: $2 Preferred shares, noncumulative, 500,000 shares
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Question:
At January 1, 2021, Waterway Corporation had the following share capital:
$2 Preferred shares, noncumulative, | ||
500,000 shares authorized, 14900 shares issued | $610000 | |
Common shares, 1,000,000 shares authorized, | ||
12000 shares issued | 250000 | |
$860000 |
On October 1, 2021, the company sold an additional 24000 common shares for proceeds of $322000. The corporation earned $171000 during the year. Assuming no dividends were declared or paid in 2021 to either preferred of common shareholders, earnings per share for 2021 would be (Round your answer to 2 decimal places.)
a) $7.84.
b) $7.13.
c) $9.50.
d) $5.58.
Related Book For
Accounting Principles Volume 2
ISBN: 978-1119502555
8th Canadian Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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