8. During the year ended December 31, 2014, Gluco, Inc., split its stock on a 4-for-1 basis....
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Question:
8.
During the year ended December 31, 2014, Gluco, Inc., split its stock on a 4-for-1 basis. In its annual report for 2013, the firm reported net income of $988,400 for 2013, with an average 214,600 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: ___________________ |
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