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Comparative Statements of Shareholders' Equity for Locke Intertechnology Corporation were reported as follows for the fiscal years ending December 31, 2014, 2015, and 2016.
Comparative Statements of Shareholders' Equity for Locke Intertechnology Corporation were reported as follows for the fiscal years ending December 31, 2014, 2015, and 2016. LOCKE INTERTECHNOLOGY CORPORATION Statements of Shareholders' Equity For the Years Ended Dec. 31, 2014, 2015, and 2016 ($ in millions) Common Balance at January 1, 2014 Sale of preferred shares Sale of common shares, 7/1 Cash dividend, preferred Cash dividend, comman Net income Balance at December 31, 2014 Retirement of common shares, 4/1 Cash dividend, preferred Cash dividend, common 3-for-2 split effected in the form of Preferred Stock, Additional Stock, Paid-in $10 par $1 per Capital Retained Earnings Total Shareholders' Equity $ 50 $ 560 $ 1,904 $2,514 11 540 551 10 87 97 (2) (2) (15) (15) 370 370 11 60 (6) 1,187 (42) 2,257 3,515 (27) (75) (2) (19) (2) (19) a common stock dividend, 8/12 27.0 (27.0) Net income 470 470 Balance at December 31, 2015 11 81.0 1,118 10% common stock dividend, 8.10 90 2,679 (98.10) 3,889 5/1 Sale of common shares, 9/1 3 33 36 Cash dividend, preferred (2) (2) Cash dividend, comman Net income (35) 438 (35) 438 Balance at December 31, 2018 11 $92.10 $1,241.0 $2,981.90 $4,328 Required: Infer from the statements the events and transactions that affected Locke Intertechnology Corporation's shareholders' equity and compute earnings per share as it would have appeared on the income statements for the years ended December 31, 2014, 2015, and 2016. No potential common shares were outstanding during any of the periods shown. (Enter your answers in millions rounded to 2 decimal places (i.e., 5,500,000 should be entered as 5.50).) Year Numerator 1 Denominator = Earnings per share 2014 1 = 2015 2016 =
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