Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On January 1, 2011 TESLA. had 150,000 shares, On April 1, 2011 TESLA sold 48000 shares, on July 1,2011 TESLA makes a 2:1 stock split

image text in transcribed
On January 1, 2011 TESLA. had 150,000 shares, On April 1, 2011 TESLA sold 48000 shares, on July 1,2011 TESLA makes a 2:1 stock split on Dec 1, 2011 TESLA distribute 0.13 stock dividend, Net income for 2011 was $2200000. The tax rate was 0.37. In addition, TESLA had the following equity securities on its books on December 31, 2011: a. 25,000 shares of $100 par, 0.13 cumulative preferred stock b. 40.000 shares of $100 par, 0.13 cumulative preferred stock, par $100. Each share of preferred stock is convertible into 8 shares of common stock. What is the TESLA weighted average number of shares for 2011 What is the basic EPS for 2011 what is the diluted EPS for 2011

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals of Financial Management

Authors: Eugene F. Brigham, Joel F. Houston

Concise 6th Edition

324664559, 978-0324664553

More Books

Students also viewed these Finance questions