Equity (20 points)

LSK Inc. Balance Sheet (Equity section) as of Dec 31, 2019
Common Stock (3000 shares, par = 0.01$)			30
APIC			29,970
Retained Earnings			2,660
Total SE			32,660

Details (read these details extremely carefully)

LSK Inc. started business on January, 2019 by issuing shares for cash in January, 2019

LSK Inc. issued a share dividend of 20% back in March, 2019 when the price was $10.

LSK Inc. did not pay out dividends in 2019.

Using the above details, answer the following:

1. Calculate LSK Inc.s Earnings-per-share on December 31^st, 2019. (2.5 points)

2. LSK Inc. is performing well and its shares are worth $100 on the market on Jan 1^st, 2020. LSK Inc. decides to split its shares 10-to-1 on Jan 1^st, 2020. Record the journal entry. (1.5 points)

3. Calculate LSK Inc.s shares new market value on Jan 1^st, 2020 after the 10-to-1 split. (1.5 points)

4. Calculate the price that LSK Inc. issued shares for on January 1^st, 2019 (1.5 points)

5. Calculate the split and dividend adjusted price of LSK Inc.s shares on January 2^nd, 2020 using the market value calculated above in (3) (2 points)

6. Record the journal entry on January 1^st, 2019 for LSK Inc. issuing shares (2 points)

7) LSK Inc. buys back 1,000 of its outstanding shares on October 31^st, 2020. The price of the stock on the market is $12 on October 31^st, 2020. Record the journal entry (1.5 points)

8) The Retained Earnings balance is reported at $5,000 on December 31^st, 2020. Calculate the EPS of LSK Inc. on December 31^st, 2020. (2.5 points)

9) Between January 1^st, 2016 and December 31^st, 2016, at what average price did the 3M Company, which was formerly known as Minnesota Mining and Manufacturing, company buy back its shares? (5 points)