Conquistitor Ltd. reported net income of $750,000 for the year ended July 31, 2020. During the year,
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Conquistitor Ltd. reported net income of $750,000 for the year ended July 31, 2020. During the year, the company also declared and paid dividends of $45,000 on the company's preferred shares. At the beginning of the year, Conquistitor had 350,000 common shares outstanding. No shares were issued or repurchased during the year. Assume 200,000 common shares were issued on Aug 1, 2019 and an additional 150,000 common shares issued on April 1, 2020. Required Calculate the basic earnings per-share ratio.
Related Book For
Intermediate Accounting
ISBN: 978-1119048541
11th Canadian edition Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy
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