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Cohen Inc. has earnings before taxes of $467,500. The company has a tax rate of 30%. On January 1, the company had outstanding 42,000 shares; on June 1 the company repurchased (through stock buy-back provisions) 12,000 shares; and on October 1, an additional 14,000 shares of common stock were issued. What is the earnings per share for the year (to the nearest cent)? $4.74 $8.50 $5.80 $12.14

Cohen Inc. has earnings before taxes of $467,500. The company has a tax rate of 30%. On January 1, the company had outstanding 42,000 shares; on June 1 the company repurchased (through stock buy-back provisions) 12,000 shares; and on October 1, an additional 14,000 shares of common stock were issued. What is the earnings per share for the year (to the nearest cent)? $4.74 $8.50 $5.80 $12.14

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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Cohen Inc. has earnings before taxes of $467,500. The company has a tax rate of 30%. On January 1, the company had outstanding 42,000 shares; on June 1 the company repurchased (through stock buy-back provisions) 12,000 shares; and on October 1, an additional 14,000 shares of common stock were issued. What is the earnings per share for the year (to the nearest cent)? $4.74 $8.50 $5.80 $12.14
Transcribed Image Text:Cohen Inc. has earnings before taxes of $467,500. The company has a tax rate of 30%. On January 1, the company had outstanding 42,000 shares; on June 1 the company repurchased (through stock buy-back provisions) 12,000 shares; and on October 1, an additional 14,000 shares of common stock were issued. What is the earnings per share for the year (to the nearest cent)? $4.74 $8.50 $5.80 $12.14
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