Exercise 17-5 On January 1, 2017, Blossom Ltd. had 500,000 common shares outstanding. During 2017, it had the following transactions that affected the common share account: Feb. 1 Issued 150,000 shares. Issued a 10 % stock dividend. Acquired 160,000 common shares and retired them. Mar. 1 May June 1 Issued a 2-for-1 stock split. t. 1 ssued 40,000 shares The company's year end is December 31. Determine the weighted average number of shares outstanding at December 31, 2017. (Round answer to 0 decimal places, e.g. 5,275.) Welghted average number of shares outstanding shares Assume that Blossom earned net income of $3,000,000 during 2017. In addition, it had 80,000 of 7% , $100 par, non-convertible, non-cumulative preferred shares outstanding for the entire year. Because company did not declare and pay a preferred dividend in 2017, liquidity limitations, however, the Calculate earnings per share for 2017, using the weighted average number shares determined above. (Round answer to 2 decimal places, e.g. 15.25.) Earnings per share $ Assume that Blossom earned net income of $3,000,000 during 2017. In addition, it had 80,000 of 7 % , $100 par, non-convertible, cumulative preferred shares outstanding for the entire year. Because of liquldity limitations, however, the company did not dedare and pay a preferred dividend in 2017. Calculate earnings per share for 2017, using the weighted average number f shares detemined above. (Round answer to 2 decimal places, e.g. 15.25.) Eamings per share s Assume that Blossom earned net income of $3,000,000 during 2017. In addition, it had 80,000 of 7%, S100 par, non-convertible, non-cumulative preferred shares outstanding for the entire year. Because company did not dedlare and pay a preferred dividend in 2017 liquidity limitations, however, the from discontinued operations of $400,000, net applicable income taxes. induded a lo incom 5sum Calculate earnings per share for 2017. (Round answers to 2 decimal places, e.q. 15.25.) Earninqs per share Income from continuing operations Loss from discontinued operations Net income Exercise 17-5 On January 1, 2017, Blossom Ltd. had 500,000 common shares outstanding. During 2017, it had the following transactions that affected the common share account: Feb. 1 Issued 150,000 shares. Issued a 10 % stock dividend. Acquired 160,000 common shares and retired them. Mar. 1 May June 1 Issued a 2-for-1 stock split. t. 1 ssued 40,000 shares The company's year end is December 31. Determine the weighted average number of shares outstanding at December 31, 2017. (Round answer to 0 decimal places, e.g. 5,275.) Welghted average number of shares outstanding shares Assume that Blossom earned net income of $3,000,000 during 2017. In addition, it had 80,000 of 7% , $100 par, non-convertible, non-cumulative preferred shares outstanding for the entire year. Because company did not declare and pay a preferred dividend in 2017, liquidity limitations, however, the Calculate earnings per share for 2017, using the weighted average number shares determined above. (Round answer to 2 decimal places, e.g. 15.25.) Earnings per share $ Assume that Blossom earned net income of $3,000,000 during 2017. In addition, it had 80,000 of 7 % , $100 par, non-convertible, cumulative preferred shares outstanding for the entire year. Because of liquldity limitations, however, the company did not dedare and pay a preferred dividend in 2017. Calculate earnings per share for 2017, using the weighted average number f shares detemined above. (Round answer to 2 decimal places, e.g. 15.25.) Eamings per share s Assume that Blossom earned net income of $3,000,000 during 2017. In addition, it had 80,000 of 7%, S100 par, non-convertible, non-cumulative preferred shares outstanding for the entire year. Because company did not dedlare and pay a preferred dividend in 2017 liquidity limitations, however, the from discontinued operations of $400,000, net applicable income taxes. induded a lo incom 5sum Calculate earnings per share for 2017. (Round answers to 2 decimal places, e.q. 15.25.) Earninqs per share Income from continuing operations Loss from discontinued operations Net income