Answered step by step
Verified Expert Solution
Question
1 Approved Answer
For the year ended December 31,2021 , Finco Incorporated reported earnings per share of $2.16. Answer the following questions: Required: a. During 2022, the company
For the year ended December 31,2021 , Finco Incorporated reported earnings per share of $2.16. Answer the following questions: Required: a. During 2022, the company had a 3-for-1 stock split. Calculate the 2021 earnings per share that will be reported in Finco's 2022 annual report for comparative purposes. b. During 2023, Finco had an additional 2-for-1 stock split. Calculate the 2021 earnings per share that will be reported in Finco's 2023 annual report for comparative purposes. c. Assume that Finco had issued a 10% stock dividend in 2022 and did not have a stock split. Calculate the 2021 earnings per share that will be reported in Finco's 2022 annual report for comparative purposes. Note: For all requirements, round your answers to 2 decimal places. For several years Orbon Incorporated has followed a policy of paying a cash dividend of $0.58 per share and having a 3% stock dividend. In the 2023 annual report, Orbon reported restated earnings per share for 2021 of $1.05. Required: a. Calculate the originally reported earnings per share for 2021. b. Calculate the restated cash dividend per share for 2021 reported in the 2023 annual report for comparative purposes. Note: For all requirements, do not round intermediate calculations. Round your answer to 2 decimal places
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