Homework Answers
Answer:
Stock dividends, Stock splits or Stock subscriptions (retroactively adjusted) - Shares are treated as if they had always been outstanding and included at full amount for current year.
| January 1 | 600 |
| March 1 | 153 (184*10/12) |
| July 1 | 22.35 [(600-153)*5%] |
| October 1 | 1 (4*3/12) |
| 730 |
Preferred stock dividends = 5 * $100 * 9% = $45
Earnings per share = (Net Income - Preferred stock dividends) / Weighted average number of common stock outstanding
= ($1150 - $45) / 730
= $1.51
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