Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Viceroy Ltd has a December 31 year-end. Its ledger account for Common Shares (Class A voting) showed the following information (dollars amounts are in thousands):

image text in transcribed
Viceroy Ltd has a December 31 year-end. Its ledger account for Common Shares (Class A voting) showed the following information (dollars amounts are in thousands): Opening Balance Jan1 = 400,000 shares Shares issued June 30 = 200,000 Shares issued September 30 = $73,800 Net Income for the Year -$2,000,000 Preferred Shares (Class B Non Voting Cumulative) = 50,000 shares ($600) Preferred Share Dividend entitlement for the year $168,000 Hint: check EPS formula in the chapter of Financial Statement Analysis Required 1: What is the Basic Earnings Per Share that Viceroy will report this year? Hint: when number of shares change during the term, a simple average does not apply, instead use the weighted average number of common shares. $ Required 2: The weighted average number of common shares for the year is: Required 3: The total earnings considered in the EPS formula for the year is: $ Instructions: Use 2 decimal places and only type the number without signs except for negative numbers that are preceded by a minu sign "-". If the right answer is 1070.39 you type *1070.39", it will not be read as correct if you type "1,070.39", "$1070.39" or any other combination. If the right answer is negative 1070.39 you type "-1070.39

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

Step: 3

blur-text-image

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

More Books

Students also viewed these Accounting questions

Question

=+ (c) Show that the Bernoulli shift is mixing.

Answered: 1 week ago