Janes Corporation reported ($ 249,500) net income in 1990 and declared preferred dividends of ($ 22,000). The

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Janes Corporation reported $\$ 249,500$ net income in 1990 and declared preferred dividends of $\$ 22,000$. The following changes in common shares outstanding occurred during the year.

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Calculate the weighted-average number of common shares outstanding during the year and earnings per share.

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Financial Accounting

ISBN: 9780256091939

5th Edition

Authors: Kermit D. Larson, Paul B. W. Miller

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Question Posted: Jun 11, 2024 12:04 AM

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Janes Corporation reported ($ 249,500) net income in 1990 and declared preferred dividends of ($ 22,000). The

Question:

January 1: 30,000 common shares were outstanding. March 1: sold 20,000 common shares for par. July 1: declared and issued a 50% common stock dividend, or (50,000 x 50%) = 25,000 additional shares.

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Financial Accounting

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