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finance On January 1, 2011 APPLE had 200000 shares, On April 1, 2011 APPLE sold 45000 shares, on July 1,2011 apple makes a 2:1 stock
finance
On January 1, 2011 APPLE had 200000 shares, On April 1, 2011 APPLE sold 45000 shares, on July 1,2011 apple makes a 2:1 stock split on Dec 1, 2011 apple distribute 0.2 stock dividend, Net income for 2011 was $2200000. The tax rate was 35%. In addition, Apple had the following debt and equity securities on its books on December 31, 2011: a. 30000 shares of $100 par, 0.15 cumulative preferred stock b. 3400 bond of 0.15 interest, Each bond is converted into 40 shares of common stock. Face value $1000 6.42000 shares of $100 par, $1.2 cumulative preferred stock, par $ 100, Each share of preferred stock is convertible into 5 shares of common stock. what is the weighted average number of common stock what is the basic epse what is the diluted EPSStep by Step Solution
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