Liberty Ventures Inc. reported $209,840 profit in 2017 and declared preferred dividends of $34,400. The following changes
Question:
Liberty Ventures Inc. reported $209,840 profit in 2017 and declared preferred dividends of $34,400. The following changes in common shares outstanding occurred during the year:
Calculate the weighted-average number of common shares outstanding during the year and earnings per share. (Round EPS calculations to two decimal places.)
Transcribed Image Text:
Jan. 1 60,000 common shares were outstanding. June 30 Sold 20,000 common shares. Sept. 1 Declared and issued a 20% common share dividend. Nov. 2 Sold 12,000 common shares.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 80% (5 reviews)
Earnings per share Calculations Time Period JanuaryJune JulyAugust ProfitPreferred ...View the full answer
Answered By
Shadrack Mulunga
I am a Biochemistry by profession. However, I have explored different fields of study. My quest to explore new fields has helped me gain new knowledge and skills in Business, clinical psychology, sociology, organizational behavior and general management, and Project Management. I count my expertise in Project management, in particular, creation of Work Break Down Structure (WBS) and use of Microsoft Project software as one of my greatest achievement in Freelancing industry. I have helped thousands of BSC and MSC students to complete their projects on time and cost-effectively using the MS Project tool. Generally, I find happiness in translating my knowledge and expertise to success of my clients. So far, i have helped thousands of students to not only complete their projects in time but also receive high grades in their respective courses. Quality and timely delivery are the two key aspects that define my work. All those who hired my services always come back for my service. If you hire my services today, you will surely return for more. Try me today!
5.00+
154+ Reviews
289+ Question Solved
Related Book For
Fundamental Accounting Principles Volume 2
ISBN: 9781259087363
15th Canadian Edition
Authors: Kermit Larson, Heidi Dieckmann
Question Posted:
Students also viewed these Business questions
-
On Monday, November 2, Apple stock was trading at $110 per share. The average annualized implied volatility of Apple over the last two months was 0.42 (which should be used as your volatility input)....
-
The Assembly Department for Sandhill has the following production data for the current month. Beginning Work in Process -0- Units Completed and Transferred Out 24,000 The equivalent units of...
-
Henry rollers produces industry used rollers. Last year, the company produced 20 000 units and sold all but only 3 000 units left. The rollers sell for $205 each. Costs incurred are listed here....
-
(b) (i) What is the smallest natural number n, such that n!> 2" (ii) Prove that n !> 2" is true any natural number greater than or equal that number. (c) Given a finite set of natural numbers ACN....
-
Briefly describe the factors that are important to the management of an internal auditing department.
-
Develop a matrix to compare the five elements of the promotional mix on three criteriato whom you deliver the message, what you say, and when you say it.
-
The purpose of this exercise is to compare the variability of x1 and x2 with the variability of 1x1 - x22. a. Suppose the first sample is selected from a population with mean m1 = 150 and variance s2...
-
1. What are the primary differences between investments in corporate stock versus corporate bonds? 2. Since bonds pay interest, does that imply the individuals risk exposure is less for investing in...
-
Data related to the inventories of Nordstrom is presented below: \ table [ [ , Type A , Type B , Type C , Type D ] , [ Selling price,$ 1 6 1 , 0 0 0 , $ 1 6 9 , 0 0 0 , $ 1 0 6 , 0 0 0 , $ 7 5 , 0 0 0
-
Peter Puck Inc. showed the following adjusted information on May 31, 2017, its second year-end: a. Prepare the appropriate closing entries.b. Prepare a statement of changes in equity for the year...
-
Vector Gaming Ltd. showed the following equity account balances on December 31, 2017: On January 2, 2018, Vector declared and distributed a 3:1 share split. Prepare a comparative equity section...
-
True or False. The product of stiffness and flexibility matrices of a system is always an identity matrix.
-
The Penguin Textile Company sells shirts for men and boys. Results for January 2 0 2 3 are summarized below. Men's Boy's Total Revenue $ 1 7 2 , 8 0 0 $ 7 2 , 0 0 0 $ 2 4 4 , 8 0 0 Variable costs 1 2...
-
SINGLE, MARRIED FILING SEPERATELY, OR HEAD OF HOUSEHOLD SINGLE, MARRIED FILING SEPERATELY, OR HEAD OF HOUSEHOLD Over $0 $12,500 $50,000 But Not Over $12,500 $50,000 Tax Due Is 4% of taxable income...
-
17. S T D -3 -2 graph of glx) 2 The graph of the continuous function g is shown above for -46x4. The Function g is twice differentiable, except at x=0. let & be the function with flo1=-2 and f'(x) =...
-
Tim works for HydroTech, a manufacturer of high-pressure industrial water pumps. He reports directly to the CFO, and she has asked him to calculate HydroTech's WACC. He has gathered the following...
-
You are appraising a 15,450 square foot (SF) building and using the Cost Approach. The base cost is $50/SF, the local multiplier is 1.05, the current cost multiplier is 0.92. The land value is...
-
Suppose that a 25-year government bond has a maturity value of $1000 and a coupon rate of 6%, with coupons paid semiannually. Find the market price of the bond if the yield rate is 5% compounded...
-
In the circuit shown in Figure 4, a battery supplies a constant voltage of 40 V, the inductance is 2 H, the resistance is 10, and l(0) = 0. (a) Find l(t). (b) Find the current after 0.1s.
-
Wang Corp. estimates income tax expense to be $285,600 for the year 2023. Record estimated income tax for January on January 31, 2023, and the payment on February 1, 2023.
-
Assume Pebble Inc. on October 15 purchased $2,500 of merchandise on credit. The next day, it recorded sales of $1,700; cost of sales was $1,200. Record the October 15 and October 16 entries assuming...
-
Mercedes Boats borrowed $220,000 on September 15, 2023, for 45 days at 7% interest by signing a note. 1. On what date will this note mature? 2. How much interest expense is created by this note? 3....
-
American Food Services, Incorporated leased a packaging machine from Barton and Barton Corporation. Barton and Barton completed construction of the machine on January 1 , 2 0 2 4 . The lease...
-
Which of the following statements is true? Financial measures tend to be lag indicators that report on the results of past actions. LA profit center is responsible for generating revenue, but it is...
-
Andretti Company has a single product called a Dak. The company normally produces and sells 8 0 , 0 0 0 Daks each year at a selling price of $ 5 6 per unit. The company s unit costs at this level of...
Study smarter with the SolutionInn App