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Assume Elridge Inc. had 400,000 common shares outstanding on January 1. It issued 50,000 shares on March 1 and retired 20,000 shares on October 1. There was a 2:1 share split on December 1. Assume NI= $750,000 and cumulative preferred dividends = $150,000 Calculate weighted average common shares outstanding using the table below Dates Share Share Shares Restated Fraction of Weighted Transaction Changes Outstanding the year average shares outstanding 1/1 3/1 10/1 12/1 Calculate EPS

Assume Elridge Inc. had 400,000 common shares outstanding on January 1. It issued 50,000 shares on March 1 and retired 20,000 shares on October 1. There was a 2:1 share split on December 1. Assume NI= $750,000 and cumulative preferred dividends = $150,000 Calculate weighted average common shares outstanding using the table below Dates Share Share Shares Restated Fraction of Weighted Transaction Changes Outstanding the year average shares outstanding 1/1 3/1 10/1 12/1 Calculate EPS

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Assume Elridge Inc. had 400,000 common shares outstanding on January 1. It issued 50,000 shares on March 1 and retired 20,000 shares on October 1. There was a 2:1 share split on December 1. Assume NI= $750,000 and cumulative preferred dividends = $150,000 Calculate weighted average common shares outstanding using the table below Dates Share Share Shares Restated Fraction of Weighted Transaction Changes Outstanding the year average shares outstanding 1/1 3/1 10/1 12/1 Calculate EPS
Transcribed Image Text:Assume Elridge Inc. had 400,000 common shares outstanding on January 1. It issued 50,000 shares on March 1 and retired 20,000 shares on October 1. There was a 2:1 share split on December 1. Assume NI= $750,000 and cumulative preferred dividends = $150,000 Calculate weighted average common shares outstanding using the table below Dates Share Share Shares Restated Fraction of Weighted Transaction Changes Outstanding the year average shares outstanding 1/1 3/1 10/1 12/1 Calculate EPS
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