Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The Alford Group had 220,000 shares of common stock outstanding at January 1, 2016. The following activities affected common shares during the year. There are
The Alford Group had 220,000 shares of common stock outstanding at January 1, 2016. The following activities affected common shares during the year. There are no potential common shares outstanding 2016 Feb. 28 Purchased 24,000 shares of treasury stock. Oct. 31 Sold the treasury shares purchased on February 28 Nov. 30 Issued 96,000 new shares Dec. 31 Net income for 2016 is $1,590,000 2017 Jan. 15 Declared and issued a 2-for-1 stock split Dec. 31 Net income for 2017 is $1,590,000 Required 1. Determine the 2016 EPS. (Enter your answers in thousands.) Numerator / Denominator | Earnings per Share 2. Determine the 2017 EPS. (Enter your answers in thousands.) Numerator / Denominator = Earnings per Share 3. At what amount will the 2016 EPS be presented in the 2017 comparative financial statements? (Enter your answers in thousands.) Numerator / Denominator | Earnings per Share
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