Question
On January 1, 2020,BlossomLtd. had618,000common shares outstanding. During 2020, it had the following transactions that affected the common share account: Feb. 1Issued192,000shares.Mar. 1Issued a13% stock
On January 1, 2020,BlossomLtd. had618,000common shares outstanding. During 2020, it had the following transactions that affected the common share account:
Feb. 1Issued192,000shares.Mar. 1Issued a13% stock dividend.May 1Acquired221,000common shares and retired them.June 1Issued a3-for-1 stock split.Oct. 1Issued48,000shares.
The company's year end is December 31.
Determine the weighted average number of shares outstanding as at December 31, 2020.(Round answer to 0 decimal places, e.g. 5,275.)
Weighted average number of shares outstandingenter the Weighted average number of shares outstanding rounded to 0 decimal places
shares
Assume thatBlossomearned net income of $3,629,000during 2020. In addition, it had110,000of11%, $100par, non-convertible, non-cumulative preferred shares outstanding for the entire year. Because of liquidity limitations, however, the company did not declare and pay a preferred dividend in 2020.
Calculate earnings per share for 2020, using the weighted average number of shares determined above.(Round answer to 2 decimal places, e.g. 15.25.)
Earnings per share$
enter Earnings per share in dollars rounded to 2 decimal places
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