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Calculations please At the end of 2016, the records of Echo Systems showed the following: Bonds payable 8%, non-convertible $380,000 Preferred shares: Class A, no-par,
Calculations please
At the end of 2016, the records of Echo Systems showed the following: Bonds payable 8%, non-convertible $380,000 Preferred shares: Class A, no-par, 80 cents, non-convertible, non-cumulative, outstanding 65,000 shares (no dividend declared) 240,000 Class B, no-par, 50 cents, non-convertible, cumulative, outstanding 30,000 shares 570,000 Common shares, no-par, authorized unlimited shares: Outstanding, January 1, 2016, 156,000 shares $1,770,000 Retired shares, March 1, 2016, 39,000 shares (357,844) Issued, 170% stock dividend on May 1, 2016, on outstanding shares (198,900 additional shares) 1,412,156 Retained earnings (no dividends declared) 1,780,000 Income before discontinued operations 111,700 Discontinued operations, net of tax 26,676 Net income $ 138,376 Average income tax rate, 40%. a) Calculate the preferred dividend claims. (Use 0 when the condition does not apply.) Please make sure your final answer(s) are accurate to the nearest whole number. Preferred dividend claims Class A Class B b) Calculate the weighted average number of common shares (WACS). Please make sure your final answer(s) are accurate to the nearest whole number. Time Period WACS January 1, 2016 to February 29, 2016 March 1, 2016 to April 30, 2016 May 1, 2016 to December 31, 2016 Total c) Calculate the earnings per share on common shares (EPS). Please make sure your final answer(s) are accurate to 2 decimal places. Earnings per share on common shares: Income before discontinued operations Discontinued operations. Net income
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