Sanders Company had 200,000 shares of common stock outstanding on December 31, 2016. During the year...
Sanders Company had 200,000 shares of common stock outstanding on December 31, 2016. During the year 2017, the company issued 8,000 shares on May 1 and retired 14,000 shares on October 31. For the year 2017, Ace Company reported net income of $249,690 after a loss from discontinued operations of $40,600 (net of tax)
What earnings per share data should be reported at the bottom of
its income statement?
Homework Answers
| Calculation of Earning per share | |||||
| Weighted average share outstanding | |||||
| common stock | 200000 | ||||
| add: issued share | 5333 | ||||
| (8000*8/12) | |||||
| less: Retired share (14000*2/12) | 2333 | ||||
| Weighted average share outstanding | 203000 | ||||
| Earning per share = net income /weighted average share outstanding | |||||
| Earning per share = 249690/203000 = 1.23 | |||||
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