Excercise 16-21 - Weighted-average number of shares...

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EXERCISE 16-21 (10–15 minutes) Event Dates Outstanding Shares Outstanding Fraction of Year Weighted Shares Beginning balance Jan. 1–April 1 800,000 3/12 200,000 Issued shares April 1–Oct. 1 1,250,000 6/12 625,000 Reacquired shares Oct. 1–Dec. 31 1,140,000 3/12 285,000 Weighted-average number of shares outstanding— unadjusted. ............................................................................ 1,110,000 Stock dividend, 2/15/11. ................................................... 1.05
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Unformatted text preview: Weighted-average number of shares outstanding— adjusted. ................................................................................ 1,165,500 Net income. ..................................................... $2,830,000 Preferred dividend (280,000 X $50 X 7%). .... (980,000 ) $1,850,000 Earnings per share for 2010: Net income applicable to common stock = $1,850,000 = $1.59 Weighted-average number of common shares outstanding 1,165,500...
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This note was uploaded on 04/22/2010 for the course ACCT ACC552 taught by Professor Hint during the Spring '09 term at Keller Graduate School of Management.

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Excercise 16-21 - Weighted-average number of shares...

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