AICPA Adapted 10. On January 1, 20X9, Apex Company, whose stock is publicly traded, had 100,000 shares of common stock issued and outstanding. On April 1, 20X9, Apex issued a 10% stock dividend. The number of shares to be used in the computation of earnings per share for 20X9 is: a. 100,000 Show work: b. 105,000 c. 107,500 d. 110,000 11. Rand, Inc., had 20,000 shares of common stock outstanding at January 1, 20X8. On May 1, 20X8, it issued 10,500 shares of common stock. Outstanding all year were 10,000 shares of nonconvertible preferred stock on which a dividend of $4 per share was paid in December 20X8. Net income for 20X8 was $96,700. Rand's earnings per share for 20X8 are: Show, work. a. $1.86 BEPS: b. $2.10 c. $2.84 d. $3.58 12. Fay Corporation's capital structure at December 31, 20X8, was as follows: Common stock Nonconvertible preferred stock Shares issued and outstanding 200,000 50,000 On October 1, 20X9, Fay issued a 10% stock dividend on its common stock, and paid $100,000 cash dividends on the preferred stock. Net income for the year ended December 31, 20X9, was $960,000. Fay's 20X9 earnings per common share should be: BEPS: show Wrok a. $3.91 b. $4.10 c. $4.36 d. $4.68