Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Alford Group had 280,000 shares of common stock outstanding at January 1, 2021. The following activities affected common shares during the year. There are

image text in transcribed

The Alford Group had 280,000 shares of common stock outstanding at January 1, 2021. The following activities affected common shares during the year. There are no potential common shares outstanding. 2021 Feb. 28 Purchased 12,000 shares of treasury stock. Oct. 31 Sold the treasury shares purchased on February 28. Nov. 30 Issued 48,000 new shares. Dec. 31 Net income for 2021 is $1,242,000. 2022 Jan. 15 Declared and issued a 2-for-1 stock split. Dec. 31 Net income for 2022 is $1,242,000. Required: 1. Determine the 2021 EPS. (Do not round intermediate calculations.) 2. Determine the 2022 EPS. 3. At what amount will the 2021 EPS be presented in the 2022 comparative financial statements? (For all requirements, Enter your answers in thousands.) Earnings per Share 4.50 1. $ Numerator 1,2421 1,2421 1,2421 Denominator 276 = 584 X = $ $ 2.13 3. $ 5521 2.25 *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points de

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Establishing A CGMP Laboratory Audit System A Practical Guide

Authors: David M. Bliesner

1st Edition

0471738409, 978-0471738404

More Books

Students also viewed these Accounting questions

Question

Define Management by exception

Answered: 1 week ago

Question

Explain the importance of staffing in business organisations

Answered: 1 week ago

Question

What are the types of forms of communication ?

Answered: 1 week ago