Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The Alford Group had 202,000 shares of common stock outstanding at January 1, 2011. The following activities affected common shares during the year. There are
The Alford Group had 202,000 shares of common stock outstanding at January 1, 2011. The following activities affected common shares during the year. There are no potential common shares outstanding. 2011 Feb. 28 Purchased 6,000 shares of treasury stock. Oct. 31 Sold the treasury shares purchased on February 28. Nov. 30 Issued 24,000 new shares. Dec. 31 Net income for 2011 is $400,000. 2012 Jan. 15 Declared and issued a 2-for-1 stock split. Dec. 31 Net income for 2012 is $400,000. Required: (1) Determine the 2011 EPS. (Round your answer to 2 decimal places. Omit the "$" sign in your response. EPS in 2011 $ (2) Determine the 2012 EPS. (Round your answer to 2 decimal places. Omit the "$" sign in your response.) EPS in 2012 $ (3) At what amount will the 2011 EPS be presented in the 2012 comparative financial statements? (Round your answer to 2 decimal places. Omit the "$" sign in your response.) 2011 EPS in the 2012 comparative financial statements $
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started