Homework Answers
Solution:
| Computation of weighted average outastanding shares | ||||||
| Number of shares | Stock Split Restatement | No. of months | Total Months | Weighted-average shares | ||
| Beginning | Shares outstanding | 60000 | 2 | 4 | 12 | 40000 |
| 30-Apr | Add: Issued Shares | 66000 | 2 | 7 | 12 | 77000 |
| 01-Dec | 2-for-1 stock split | 132000 | 1 | 12 | 11000 | |
| Total weighted average number of shares outstanding | 128000 | |||||
Preferred Dividend = 20000*$0.75 = $15,000
| LeDuc Construction Ltd. | |
| Earnings per share: | |
| Income from continued operations [($70000-15000)/128000] | $0.43 |
| Loss from Discontinued Operations ($4000/ 128000) | -$0.03 |
| Net Income | $0.40 |
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