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Calculate the basic earnings per share.

Calculate the basic earnings per share.

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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Marshall Inc. had 31,500 common shares on January 1, 2021. On May 1, 3,240 common shares were repurchased and retired. On August 31 and November 30, 9,600 and 5,640 common shares were issued, respectively. Marshall reported net income of $342,000. Marshall also had 9,400 $2 noncumulative preferred shares, on which the dividend for the current year was declared and paid. Calculate the basic earnings per share. (Round answer to 2 decimal places, e.g. 15.25.) Basic earnings per share $
Transcribed Image Text:Marshall Inc. had 31,500 common shares on January 1, 2021. On May 1, 3,240 common shares were repurchased and retired. On August 31 and November 30, 9,600 and 5,640 common shares were issued, respectively. Marshall reported net income of $342,000. Marshall also had 9,400 $2 noncumulative preferred shares, on which the dividend for the current year was declared and paid. Calculate the basic earnings per share. (Round answer to 2 decimal places, e.g. 15.25.) Basic earnings per share $
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