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The Li Group had 270,000 shares of common stock outstanding at January 1, 2024. The following activities affected common shares during the year. There are
The Li Group had 270,000 shares of common stock outstanding at January 1, 2024. The following activities affected common shares during the year. There are no potential common shares outstanding.
| 2024 | |
|---|---|
| February 28 | Purchased 9,000 shares of treasury stock. |
| October 31 | Sold the treasury shares purchased on February 28. |
| November 30 | Issued 36,000 new shares. |
| December 31 | Net income for 2024 is $1,335,000. |
| 2025 | |
| January 15 | Declared and issued a 2-for-1 stock split. |
| December 31 | Net income for 2025 is $1,335,000. |
Required:
- Determine the 2024 EPS.
- Determine the 2025 EPS.
- At what amount will the 2024 EPS be presented in the 2025 comparative financial statements?
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Auditing And Assurance Services
Authors: Louwers, Timothy Louwers
5th Edition
0078025443, 978-0078025440
