Benjy Inc has 7,000,000 shares of common stock outstanding on December 31, 2022. An additional 1,000,000 shares of common stock were issued on April 1, 2023, and 500,000 more on July 1, 2023. On October 1, 2023, Benjy declared a 20% stock dividend. On November 1, Benjy purchased 120,000 of its own stock. During the year, Benjy declared a preferred dividend of $100,000. For 2023, Benjy's net income was $11,000,000. Compute EPS (round to the nearest penny if necessary). SHOW ALL COMPUTATIONS. Benjy Inc has 7,000,000 shares of common stock outstanding on December 31, 2022. Anadditional 1,000,000 shares of common stock were issued on April 1, 2023, and 500,000 moreon July 1, 2023. On October 1, 2023, Benjy declared a 20% stock dividend. On November 1,Benjy purchased 120,000 of its own stock. During the year, Benjy declared a preferred dividendof $100,000. For 2023, Benjy's net income was $11,000,000.Compute EPS (round to the nearest penny if necessary).SHOW ALL COMPUTATIONS.

Earnings per share refers to the ratio that represents the earnings of the company attributable to…

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Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

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Benjy Inc has 7,000,000 shares of common stock outstanding on December 31, 2022. An additional 1,000,000 shares of common stock were issued on April 1, 2023, and 500,000 more on July 1, 2023. On October 1, 2023, Benjy declared a 20% stock dividend. On November 1, Benjy purchased 120,000 of its own stock. During the year, Benjy declared a preferred dividend of $100,000. For 2023, Benjy's net income was $11,000,000. Compute EPS (round to the nearest penny if necessary). SHOW ALL COMPUTATIONS.