Question
On January 1, a company has 700,000 shares of issued and outstanding common stock. On March 1, the company repurchases 60,000 shares. On June 1,
On January 1, a company has 700,000 shares of issued and outstanding common stock. On March 1, the company repurchases 60,000 shares. On June 1, it effects a 2-for-1 stock split. On November 1, it issues 240,000 shares. The company has a net income for the year of $2,720,000. What is the basic earnings per share of common stock for the year (rounded to the nearest cent)?
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Accounting Understanding And Practice
Authors: Robert Perks
4th Edition
9780077139131
