Question
NuCorp presented the following data. Net income $5,800,000 Preferred stock: 100,000 shares outstanding, $100 par, 8% cumulative, not convertible 10,000,000 Common stock: Shares outstanding 1/1
NuCorp presented the following data.
Net income $5,800,000
Preferred stock: 100,000 shares outstanding,
$100 par, 8% cumulative, not convertible 10,000,000
Common stock: Shares outstanding 1/1 500,000
Issued for cash, 4/1 800,000
Issued 40% stock dividend, 10/1
Compute earnings per share.
SCHEDULE Computation of Earnings Per Share Dates Outstanding Shares Outstanding Fraction of Year Weighted Shares 2 Event Restatement 3 5 7 9 Net income applicable to common stock: 11 12 13 14 Earnings per share: 15 O O OO O UNAWN OO 0000 AWN 17 18 19
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Intermediate accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
7th edition
978-0077614041, 9780077446475, 77614046, 007744647X, 77647092, 978-0077647094
