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I am needing help with this one. I have some of the information, but can't figure out how to get the rest: Exercise 16-18 Sheffield
I am needing help with this one. I have some of the information, but can't figure out how to get the rest:
Exercise 16-18
Sheffield Inc. presented the following data.
Net income
$2,670,000
Preferred stock:46,000shares outstanding,$100 par,8% cumulative, not convertible
4,600,000
Common stock: Shares outstanding 1/1
789,600
Issued for cash, 5/1
307,200
Acquired treasury stock for cash, 8/1
136,800
2-for-1 stock split, 10/1
Compute earnings per share.(Round answer to 2 decimal places, e.g. $2.55.)
Earnings per share
Exercise 16-18 Sheffield Inc. presented the following data. Net income Preferred stock: 46,000 shares outstanding, $100 par, 8% cumulative, not convertible Common stock: Shares outstanding 1/1 Issued for cash, 5/1 Acquired treasury stock for cash, 8/1 2-for-1 stock split, 10/1 $2,670,000 4,600,000 789,600 307,200 136,800 Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share event Dates shares oustanding beg bal Jan 1- May 1 789,600.00 Issued shares May 1 - Aug 1 2.00 3.00 12.00 - reaquired shares Aug 1 - Oct 1 2.00 2.00 12.00 - stock split Oct 1-Dec 31 1.00 3.00 12.00 197,400.00 789,600.00 stock split restatement # of months 12 Months Weighted Shares 2.00 4.00 12.00 526,400.00 723,800.00 EPS 2,670,000.00 00 368,000.00 723,800. 3.18Step by Step Solution
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