Homework Answers
Answer
Calculation of 2017 earnings per common share of Tam company
(a) Calculation of net income attributable to common shareholders
Particulars Amount($)
Net income for the year 10000
Less : Preference dividend 1000
Net income attributable to common shareholders 9000
(b) Calculation of weighted average number of shares
= (10000*12/12)+(2000*6/12) = 11000
Basic earnings per common share = net income attributable to common shareholders/weighted avg no of shares
= $9000/11000 = $0.82
Diluted earnings per share = $10000/16000 = $0.625
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