Question
Comparative Earnings per Share Lucas Company reports net income of $2,520 for the year ended December 31, 2019, its first year of operations. On January
Comparative Earnings per Share
Lucas Company reports net income of $2,520 for the year ended December 31, 2019, its first year of operations. On January 4, 2019, Lucas issued 9,000 shares of common stock. On August 2, 2019, it issued an additional 3,600 shares of stock, resulting in 12,600 shares outstanding at year-end.
During 2020, Lucas earned net income of $18,120. It issued 3,000 additional shares of stock on March 3, 2020, and declared and issued a 2-for-1 stock split on November 3, 2020, resulting in 31,200 shares outstanding at year-end.
During 2021, Lucas earned net income of $29,952. The only common stock transaction during 2021 was a 20% stock dividend issued on July 2, 2021.
If required, round your final answers to two decimal places.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started