Question
. Jasper Corp, has the following Stockholders Equity account balances and activity for Year 2. Net income $14,655,000 Retained earnings $16,500,000 Preferred stock shares outstanding
. Jasper Corp, has the following Stockholders Equity account balances and activity for Year 2.
Net income | $14,655,000 |
| ||
Retained earnings | $16,500,000 |
| ||
|
|
| ||
Preferred stock shares outstanding | 2,000 |
| ||
Common stock shares outstanding at January 1, Year 2 | 7,375,000 |
| ||
Additional Common shares issued at July 1, Year 2 | 30,000 |
| ||
4-for-1 stock split at December 31, Year 2 |
|
| ||
Preferred Dividends | $10,000 |
| ||
Common Dividends | $75,000 |
| ||
Year 1 EPS | $3.60 |
|
Date | Shares | Portion of year | Weighted Average Shares |
January 1, Y2 | 7,375,000 |
|
|
July 1, Y2 |
|
|
|
Weighted Average December 31 before split |
|
|
|
Stock split 4-for-1 |
|
|
|
*Total Weighted Average, 12/31/Y2 |
|
|
|
Note: Year 1 restated |
|
|
$3.60 / 4 =_____
|
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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