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Answer all Parts Pioneering Inc had 1000 preferred shares, $3, issued in the beginning of the year 2020. The following changes in common shares outstanding

Answer all Parts

Pioneering Inc had 1000 preferred shares, $3, issued in the beginning of the year 2020. The following changes in common shares outstanding during the year [2020]

Jan 1 10000 common shares were issued

March 31 Sold 15000common shares to shareholders

June 1 Sold 2000 preferred shares

Aug 1 Declared and issued a 10% common share dividend

Oct 1 Repurchased 5500 shares

Nov 1 Issued 7000 common shares

Dec 1 Sold 2500 outstanding Preferred shares and 1200 common shares

HINT: Read information from the beginning of the question

Some additional information on the table below

Table1

$

Revenue

180,000

Supplies Expense

5000

Cost of goods sold

75000

Prepaid insurance expense

6000

Depreciation Expense

9000

Other expenses

32000

Repairs and maintenance expense

5100

Interest expense

4800

Tax

17000

Required

  1. Calculate Preferred share Dividend,,,Calculate the Net Income ,,,Calculate the weighted outstanding shares ,,Calculate the Earning Per Share [ EPS]

[40 marks]

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