Question
On January 1, 2017, Ivanhoe Ltd. had 500,000 common shares outstanding. During 2017, it had the following transactions that affected the common share account: Feb.
On January 1, 2017, Ivanhoe Ltd. had 500,000 common shares outstanding. During 2017, it had the following transactions that affected the common share account: Feb. 1 Issued 157,000 shares. Mar. 1 Issued a 19% stock dividend. May 1 Acquired 168,000 common shares and retired them. June 1 Issued a 2-for-1 stock split. Oct. 1 Issued 71,000 shares. The companys year end is December 31. Determine the weighted average number of shares outstanding as at December 31, 2017. Assume that Ivanhoe earned net income of $3,452,000 during 2017. In addition, it had 110,000 of 11%, $100 par, non-convertible, noncumulative preferred shares outstanding for the entire year. Because of liquidity limitations, however, the company did not declare and pay a preferred dividend in 2017. Calculate earnings per share for 2017, using the weighted average number of shares determined above. Assume that Ivanhoe earned net income of $3,452,000 during 2017. In addition, it had 110,000 of 11%, $100 par, non-convertible, cumulative preferred shares outstanding for the entire year. Because of liquidity limitations, however, the company did not declare and pay a preferred dividend in 2017. Calculate earnings per share for 2017, using the weighted average number of shares determined above. Assume that Ivanhoe earned net income of $3,452,000 during 2017. In addition, it had 110,000 of 11%, $100 par, non-convertible, noncumulative preferred shares outstanding for the entire year. Because of liquidity limitations, however, the company did not declare and pay a preferred dividend in 2017. Assume that net income included a loss from discontinued operations of $400,000, net of applicable income taxes. Calculate earnings per share for 2017
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