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During 2018, its first year of operations, McCollum Tool Works entered into the following transactions relating to shareholders' equity. The corporation was authorized to issue
During 2018, its first year of operations, McCollum Tool Works entered into the following transactions relating to shareholders' equity. The corporation was authorized to issue 100 million common shares, S1 par per share. Jan. 2 Isnud 45 million common shares for cash. 3 Entered an agreement with the company president to innue up to 2 million additional shares of common stock in 2019 based on the earnings of McCollum in 2019. If net income exceede $240 million, the president will receive 1 million shares: 2 million share it net income exceeds $150 million Mar. 31 Issued 4 million shares in exchange for plant facilities. Net Income for 2018 was $146 million Required: Compute basic and diluted earnings per share for the year ended December 31, 2018. (Enter your answers in millions (.e. 10,000,000 should be entered as 10).) Numerator Denominator Enrings per Share Basic EPS Duted EPS 11
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