Homework Answers
Answer:
Total number of common sock = 750000 shares + 750000
shares x 4%
=780000 shares
Weighted Average number of shares sold = (60000 shares x
10months / 12 months) x 1.04
=52000 shares
weighted average shares retired = 200 shares x
6/12
=1000 shares
Total weighted average number of shares =
78000+52000-1000
=831000 shares
compute EPS as follows:
EPS = ((Net income-preferred dividends)/weighted average number of
common shares outstanding )
=(2850000-84000)/831000 shares
=3.32 per share
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$450,000 and $74,000 to common and preferred shareholders,
respectively, on December 15, 2018.
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part of a 2017 agreement for the acquisition of Merrill Cable
Company, another 26,000 shares...
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