Calculate weighted avg common stock outstanding and basic eps for year ended December 31, 2016.
Calculate weighted avg common stock outstanding and basic eps for year ended December 31, 2016.
Corporation
December 31, 2016. information:
1. authorized to issue 10,000,000 shares of $10 par
value common stock. January 1, 2016, 1,500,000 shares of common
stock issued and outstanding. also
authorized to issue 2,000,000 shares of 5% $100 par value cumulative
preferred stock. January 1, 2016, 400,000 shares of cumulative
preferred stock issued and outstanding.
net income 2016 - 13,480,000
during 2016:
January 1 – a 15% stock dividend
February 1—250,000 shares of common stock issued to
executive employees as restricted stock compensation.
market value on grant date - $25 per share.
April 1— A 10% common stock dividend
July 1— 300,000 shares common stock issued for a factory building.
September - 2-for-1 split common stock
October 1—f 50,000 shares common stock
purchased on market at $8 per share. to be held as
Common stock cash dividends—Cash dividends to common
stockholders declared and paid on November 1 at $0.20 per share to
owners of record as of that date.
Preferred stock 2016 cash dividends were declared and paid on
November 1st
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