For the year ended December 31, 2013, Wabush Inc. (Wabush) reported net income of ($11,700,000). On December
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For the year ended December 31, 2013, Wabush Inc. (Wabush) reported net income of \($11,700,000\). On December 31, 2012, Wabush had the following capital stock outstanding:
On June 30, 2013 Wabush repurchased 2,000,000 common shares for \($9\) per share.
Required:
a. Calculate Wabush’s basic earnings per share for the year ended December 31, 2013.
b. How much of a dividend should Wabush’s shareholders expect to receive in 2014?
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