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On January 1, 2011 APPLE. had 170000 shares, On April 1, 2011 APPLE sold 55000 shares, on July 1,2011 apple makes a 2:1 stock
On January 1, 2011 APPLE. had 170000 shares, On April 1, 2011 APPLE sold 55000 shares, on July 1,2011 apple makes a 2:1 stock split on Dec 1, 2011 apple distribute 0.12 stock dividend, Net income for 2011 was $2700000. The tax rate was 35%. In addition, Apple had the following debt and equity securities on its books on December 31, 2011: a. 22000 shares of $100 par, 0.2 cumulative preferred stock b. 4300 bond of, 0.08 interest.. Each bond is converted into 40 shares of common stock. Face value $1000 c.40000 shares of $100 par, $1.5 cumulative preferred stock, par $100, Each share of preferred stock is convertible into 5 shares of common stock. what is the weighted average number of common stock what is the basic eps? what is the diluted EPS?
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