During 2024, Ryabova entered into the following transactions relating to shareholders' equity. The corporation was authorized to issue 20 million common shares, $1 par per share. Net income for 2024 was $130 million. January 2 Issued 10 million common shares for cash. January 3 Entered an agreement with the company president to issue up to 2 million additional shares of common stock in 2024 based on the earnings of Ryabova in 2024. If net income exceeds $120 million, the president will receive 1 million shares; if net income exceeds $140 million, the president will receive 2 million shares. Required: Compute basic and diluted EPS for 2024. Note: Round your answers to 2 decimal places. Basic EPS Diluted EPS
During 2024, Ryabova entered into the following transactions relating to shareholders' equity. The corporation was authorized to issue 20 million common shares, $1 par per share. Net income for 2024 was $130 million. January 2 Issued 10 million common shares for cash. January 3 Entered an agreement with the company president to issue up to 2 million additional shares of common stock in 2024 based on the earnings of Ryabova in 2024. If net income exceeds $120 million, the president will receive 1 million shares; if net income exceeds $140 million, the president will receive 2 million shares. Required: Compute basic and diluted EPS for 2024. Note: Round your answers to 2 decimal places. Basic EPS Diluted EPS
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:During 2024, Ryabova entered into the following transactions relating to shareholders' equity. The corporation was authorized to issue
20 million common shares, $1 par per share.
Net income for 2024 was $130 million.
January 2 Issued 10 million common shares for cash.
January 3 Entered an agreement with the company president to issue up to 2 million additional shares of common stock in 2024 based
on the earnings of Ryabova in 2024. If net income exceeds $120 million, the president will receive 1 million shares; if
net income exceeds $140 million, the president will receive 2 million shares.
Required:
Compute basic and diluted EPS for 2024.
Note: Round your answers to 2 decimal places.
Basic EPS
Diluted EPS
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