Question
At the end of the year, the records of Nortech Corporation provided the following selected and incomplete data: Common shares, no par value Shares authorized,
At the end of the year, the records of Nortech Corporation provided the following selected and incomplete data:
Common shares, no par value | ||
Shares authorized, 200,000 | ||
Shares issued, ? ;issue price $17 per share; cash collected in full | $ | 2,125,000 |
Net earnings | 118,000 | |
Dividends declared and paid | 75,000 | |
Prior-period error, correction of an accounting error (a credit, net of income tax) | 9,000 | |
Retained earnings, beginning balance | 155,000 | |
1. Complete the following tabulation:
Shares Authorized:
Shares Issued:
Shares Outstanding
2. Calculate the amount of Earnings per share
3. Calculate the amount of Dividend paid per common share
4. Calculate the amount of retained earnigns available for dividends at the start of the year
5.
Assume that the board of directors voted for a 100 percent stock split (the number of shares will double).
5-a. After the stock split, calculate the average issue price per share? (Round the final answer to 2 decimal places.)
5-b after the stock split calculate the outstanding shares
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