1.

Assume TRI reported income from operations of $2,477,760 (inclusive of a loss from discontinued operations of $391,200) in 2021. It did not declare any common dividends during the year. However it did declare and pay preferred dividends of $600,000 on December 20, 2021. It began the year with 132,000 common shares outstanding and issued 720,000 common shares on April 1. On June 15 a 20% stock dividend was declared and distributed. On November 1, it repurchased 144,000 shares and cancelled them. Determine the companys basic EPS from continuing operations for the year.

Select one:

a.

$4.76.

b.

$2.90.

c.

$3.17.

d.

$2.84.

e.

$3.40

2.

RI began the year, 2021 with 132,000 shares of common stock and 30,000 shares of 7%, $100 par value, cumulative, nonconvertible preferred stock. On March 1 it declared a 10% stock dividend on common shares. On September 30, it purchased 20,000 common shares and cancelled them. On October 1, TRI declared a 2-for-one stock split. Operating income for the year was $911,000 and no dividends for 2021 were declared. Compute the weighted average number of common shares and the basic EPS for the year.

Select one:

a.

250,400 shares and $2.80.

b.

140,200 shares and $1.57

c.

280,400 shares and $2.50.

d.

280,400 shares and $3.25.

e.

None of the above.