Bright way Corporation had 30,000 shares of common stock outstanding on January 1 and issued an additional 10,000 shares on April 1. The company has no preferred stock outstanding. If Bright way reports earnings per share of $4.20 for the year ending December 31, what is the company's net income?

Bright way Corporation had 30,000 shares of common stock outstanding on January 1 and issued an additional 10,000 shares on April 1. The company has no preferred stock outstanding. If Bright way reports earnings per share of $4.20 for the year ending December 31, what is the company's net income?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 20EA: Longmont Corporation earned net income of $90,000 this year. The company began the year with 600...

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Question

I need help with this general accounting question using the proper accounting approach.

Bright way Corporation had 30,000 shares of common stock
outstanding on January 1 and issued an additional 10,000 shares on
April 1. The company has no preferred stock outstanding. If Bright
way reports earnings per share of $4.20 for the year ending
December 31, what is the company's net income?

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