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E11-17 Determining the Effect of a Stock Repurchase on EPS and ROE [LO 11-2, LO 11-5) Swimtech Pools Inc. (SPI) reported the following in its financial statements for the quarter ended March 31, 2018. Common Stock, $1 par, 50,000 shares outstanding Additional Paid-In Capital Retained Earnings Total Stockholders' Equity December 31, 2017 $ 50,000 30,000 20,000 $100,000 March 31, 2018 $ 50,000 30,000 20,000 $100,000 During the quarter ended March 31, SPI reported Net Income of $5,000 and declared and paid cash dividends totaling $5,000. Required: 1. Calculate earnings per share (EPS) and return on equity (ROE) for the quarter ended March 31. 2. Assume SPI repurchases 10,000 of its common stock at a price of $2 per share on April 1, 2018. Also assume that during the quarter ended June 30, 2018, SPI reported Net Income of $5,000 and declared and paid cash dividends totaling $5,000. Calculate earnings per share (EPS) and return on equity (ROE) for the quarter ended June 30, 2018. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate earnings per share (EPS) and return on equity (ROE) for the quarter ended March 31. (Round "Earnings per Share" to 2 decimal places and "Return on Equity" to 1 decimal place.) Earnings per Share Return on Equity E11-17 Determining the Effect of a Stock Repurchase on EPS and ROE [LO 11-2, LO 11-5) Swimtech Pools Inc. (SPI) reported the following in its financial statements for the quarter ended March 31, 2018. Common Stock, $1 par, 50,000 shares outstanding Additional Paid-In Capital Retained Earnings Total Stockholders' Equity December 31, 2017 $ 50,000 30,000 20,000 $100,000 March 31, 2018 $ 50,000 30,000 20,000 $100,000 During the quarter ended March 31, SPI reported Net Income of $5,000 and declared and paid cash dividends totaling $5,000. Required: 1. Calculate earnings per share (EPS) and return on equity (ROE) for the quarter ended March 31. 2. Assume SPI repurchases 10,000 of its common stock at a price of $2 per share on April 1, 2018. Also assume that during the quarter ended June 30, 2018, SPI reported Net Income of $5,000 and declared and paid cash dividends totaling $5,000. Calculate earnings per share (EPS) and return on equity (ROE) for the quarter ended June 30, 2018. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assume SPI repurchases 10,000 of its common stock at a price of $2 per share on April 1, 2018. Also assume that during the quarter ended June 30, 2018, SPI reported Net Income of $5,000 and declared and paid cash dividends totaling $5,000. Calculate earnings per share (EPS) and return on equity (ROE) for the quarter ended June 30, 2018. (Round "Earnings per Share" to 3 decimal places and "Return on Equity" to 1 decimal place.) Show less Earnings per Share Return on Equity %