Liberty Ventures Inc. reported a $320,000 profit in 2020 and declared preferred dividends of $20,000. The following
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Question:
Liberty Ventures Inc. reported a $320,000 profit in 2020 and declared preferred dividends of $20,000. The following changes in common shares outstanding occurred during the year:
Jan 1 100,000 common shares were outstanding :
June 30 Sold 22,000 common shares :
Sept. 1 Declared and issued a 30% common share dividend :
Nov 2 Sold 4,000 common shares.
Calculate the weighted average number of common shares outstanding during the year and the earnings per share. (Round the Earnings per share answer to 2 decimal places).
Related Book For
Fundamental Accounting Principles Volume II
ISBN: 978-1260305838
16th Canadian edition
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
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