Question
45. During the year ended December 31, 2014, Gluco, Inc., split its stock on a 3-for-1 basis. In its annual report for 2013, the firm
45.
During the year ended December 31, 2014, Gluco, Inc., split its stock on a 3-for-1 basis. In its annual report for 2013, the firm reported net income of $998,300 for 2013, with an average 283,300 shares of common stock outstanding for that year. There was no preferred stock. |
Required: |
a. | What amount of net income for 2013 will be reported in Gluco's 2014 annual report? |
Net income: $_____________ |
b. | Calculate Gluco's earnings per share for 2013 that would have been reported in the 2013 annual report.(Round your answer to 2 decimal places.) |
Earnings per share: $___________ |
c. | Calculate Gluco's earnings per share for 2013 that will be reported in the 2014 annual report for comparative purposes.(Round your answer to 2 decimal places.) |
Earnings per share: $__________ |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started