Homework Answers
Answer:
| Net Income | 1,050 | ||
| Less: Preferred Dividend (100 × 9% × 21) | 189 | ||
| Net Income For EPS Calculation | 861 | ||
| Date | Weighted Average Number of Equity Shares | ||
| December 31st | Common Stock | 540 | Million Shares |
| March 1st | Treasury Stock (24 × 10/12) | -20 | Million Shares |
| July 1st | 5% stock dividend (540-20) × 5% | 26 | Million Shares |
| Oct 1st | Treasury Stock (4 × 3/12) | 1 | Million Shares |
| Weighted Average Shares as on Dec 31st (For Basic) | 547 | Million Shares | |
| If Stock Options Are Exersised | |||
| Proceeds received = (84 × $75) | 6,300 | Millions | |
| Buyback the Treasury Stock = (6,300 / $100) | 63 | Million Shares | |
| Net Increase in the numberof shares | 21 | Million Shares | |
| Weighted Average Stock (For Diluted EPS) | 568 | Million Shares |
.
| Numerator | Denominator | Earnings Per Share | |||
| Net Income | / | Weighted Average Shares | = | Earnings Per Share | |
| Basic EPS | 861 | / | 547 | = | 1.57 |
| Diluted EPS | 861 | / | 568 | = | 1.52 |
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