Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Current Attempt in Progress On January 1, 2023, Oriole Ltd. had 600,000 common shares outstanding. During 2023, it had the following transactions that affected the
Current Attempt in Progress On January 1, 2023, Oriole Ltd. had 600,000 common shares outstanding. During 2023, it had the following transactions that affected the common share account: Feb. 1 Issued 180,000 shares Mar. 1 Issued a 10\% stock dividend May 1 Acquired 207,000 common shares and retired them June 1 Issued a 2 -for-1 stock split Oct. 1 Issued 70,000 shares The company's year end is December 31 . Assume that Oriole earned net income of $1,994,300 during 2023. In addition, it had 80,000 of 11%,$100 par, non-convertible, cumulative preferred shares outstanding for the entire year. Because of liquidity limitations, however, the company did not declare and pay a preferred dividend in 2023. Calculate earnings per share for 2023 using the weighted average number of shares determined above. (Round answer to 2 decimal places, e.g. 15.25.) Earnings per share $ eTextbook and Media Assume that Oriole earned net income of $1,994,300 during 2023. In addition, it had 80,000 of 11%,$100 par, non-convertible, non-cumulative preferred shares outstanding for the entire year. Because of liquidity limitations, however, the company did not declare and pay a preferred dividend in 2023. Assume that net income included a loss from discontinued operations of $128,205, net of applicable income tax. Calculate earnings per share for 2023. (Round answers to 2 decimal places, e.g. 15.25. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
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