Question
Foxhound Corp reported net income of $720,000 for the year ended December 31, 2019. Foxhound had 100,000 common shares outstanding as of January 1st, 2019;
Foxhound Corp reported net income of $720,000 for the year ended December 31, 2019. Foxhound had 100,000 common shares outstanding as of January 1st, 2019; 24,000 fully vested (as of 2013) stock options (each option allows for one common share at a $50 exercise price); Foxhound bought back 20,000 common shares on October 1st, 2019. The average market price of the shares throughout the year was $60 per share. Which of the following is the Basic EPS for Foxhound at the end of 2019? (Round to the nearest penny)
Multiple Choice
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$10.00
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$9.00
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$7.20
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$7.58
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Modern Auditing Study Guide
Authors: Walter G. Kell
4th Edition
0471619434, 978-0471619437
