As part of its executive compensation plan, Vertovec Incorporated granted 54,000 of its no-par common shares to executives subject to forfeiture if employment is terminated within three years. Vertovec's common shares have a market price of $15 pe share on January 1, 2023, the grant date of the restricted stock award, as well as on December 31, 2024, 475.000 shares wer outstanding at January 1, 2024. Net income for 2024 was $380,000 Required: Compute Vertovec's basic and diluted earnings per share for the year ended December 31, 2024 Note: Do not round intermediate calculations. Enter your answers in thousands (.e., 10,000 should be entered as 10). Numerator Basic Denominator Earnings per Share
As part of its executive compensation plan, Vertovec Incorporated granted 54,000 of its no-par common shares to executives subject to forfeiture if employment is terminated within three years. Vertovec's common shares have a market price of $15 pe share on January 1, 2023, the grant date of the restricted stock award, as well as on December 31, 2024, 475.000 shares wer outstanding at January 1, 2024. Net income for 2024 was $380,000 Required: Compute Vertovec's basic and diluted earnings per share for the year ended December 31, 2024 Note: Do not round intermediate calculations. Enter your answers in thousands (.e., 10,000 should be entered as 10). Numerator Basic Denominator Earnings per Share
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:As part of its executive compensation plan, Vertovec Incorporated granted 54,000 of its no-par common shares to executives.
subject to forfeiture if employment is terminated within three years. Vertovec's common shares have a market price of $15 per
share on January 1, 2023, the grant date of the restricted stock award, as well as on December 31, 2024, 475.000 shares were
outstanding at January 1, 2024. Net income for 2024 was $380,000
Required:
Compute Vertovec's basic and diluted earnings per share for the year ended December 31, 2024
Note: Do not round intermediate calculations. Enter your answers in thousands (i.e., 10,000 should be entered as 10).
Numerator
Denominator = Earnings per Share
Basic
Diluted
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