Question
Portillo Inc. uses a calendar year for financial reporting. The company is authorized to issue 9,000,000 10 par ordinary shares. At no time has Portillo
Portillo Inc. uses a calendar year for financial reporting. The company is authorized to issue 9,000,000 10 par ordinary shares. At no time has Portillo issued any potentially dilutive securities. Listed below is a summary of Portillos ordinary share activities. 1. Number of ordinary shares issued and outstanding at December 31, 2014 2,400,000 2. Shares issued as a result of a 10% share dividend on September 30, 2015 240,000 3. Shares issued for cash on March 31, 2016 2,000,000 Number of ordinary shares issued and outstanding at December 31, 2016 4,640,000 4. A 2-for-1 share split of Portillos ordinary shares took place on March 31, 2017 Required: a. Compute the weighted-average number of ordinary shares used in computing earnings per ordinary share for 2015 b. Compute the weighted-average number of ordinary shares used in computing earnings per ordinary share for 2016 c. Compute the weighted-average number of ordinary shares used in computing earnings per ordinary share for 2017
Need the calculations and working of each part.
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