For the year ended December 31, 2023, Fancy Corporation reported net income of $8,500,000. At January...
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For the year ended December 31, 2023, Fancy Corporation reported net income of $8,500,000. At January 1, 2023, the company had 4,100,000 common shares outstanding. On May 31, the company sold 820,000 shares in a public offering. On June 14 the company declared and distributed a 12% stock dividend. On October 1, the company issued 328,000 shares as part of the consideration for the purchase of assets from a subsidiary. January 1 May 31 June 14 October 1 Shares outstanding Shares issued Stock dividend Shares issued Net income 4,100,000 820,000 12% 328,000 $8,500,000 Required: Compute Fancy's earnings per share for the year ended December 31, 2023. A 29 30 January 1 May 31 October 1 B = 18 Required: Compute Fancy's earnings per share for the year ended December 31, 2023, 19 20 1. What is the numerator in the EPS calculation? 21 22 2. What is the denominator in the EPS calculation? 23 24 25 26 27 28 Shares 4,100,000 820,000 328,000 Total Weighted Shares C Graded Worksheet + D Calculation Mode: Automatic Workbook Statiction E Adjustment for: Stock Dividend Fraction of Year Weighted Shares 12% F 3. Compute earnings per share for the year ended December 31, 2023. For the year ended December 31, 2023, Fancy Corporation reported net income of $8,500,000. At January 1, 2023, the company had 4,100,000 common shares outstanding. On May 31, the company sold 820,000 shares in a public offering. On June 14 the company declared and distributed a 12% stock dividend. On October 1, the company issued 328,000 shares as part of the consideration for the purchase of assets from a subsidiary. January 1 May 31 June 14 October 1 Shares outstanding Shares issued Stock dividend Shares issued Net income 4,100,000 820,000 12% 328,000 $8,500,000 Required: Compute Fancy's earnings per share for the year ended December 31, 2023. A 29 30 January 1 May 31 October 1 B = 18 Required: Compute Fancy's earnings per share for the year ended December 31, 2023, 19 20 1. What is the numerator in the EPS calculation? 21 22 2. What is the denominator in the EPS calculation? 23 24 25 26 27 28 Shares 4,100,000 820,000 328,000 Total Weighted Shares C Graded Worksheet + D Calculation Mode: Automatic Workbook Statiction E Adjustment for: Stock Dividend Fraction of Year Weighted Shares 12% F 3. Compute earnings per share for the year ended December 31, 2023.
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Related Book For
Advanced Financial Accounting
ISBN: 978-0137030385
6th edition
Authors: Thomas Beechy, Umashanker Trivedi, Kenneth MacAulay
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