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Novak Inc. presented the following data. Net income $2,740,000 Preferred stock: 45,000 shares outstanding, $100 par,...

Novak Inc. presented the following data.

Net income $2,740,000
Preferred stock: 45,000 shares outstanding, $100 par, 8% cumulative, not convertible 4,500,000
Common stock: Shares outstanding 1/1 714,000
   Issued for cash, 5/1 291,600
   Acquired treasury stock for cash, 8/1 135,600
   2-for-1 stock split, 10/1


Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.)

Earnings per share

$

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Answer #1

Answer: $1.40

Beginning balance Issued shares Reacquired shares Stock split Novak Inc Computation of earnings per share Shares out Stock sp

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