Exercise 13-12 Weighted-average shares outstanding and earnings per share LO3 Horticultural Products Inc. reported $1,022,740 profit in 2023 and declared preferred dividends of $63,100. The following changes in common shares outstanding occurred during the year. Jan. 1 90,000 common shares were outstanding. Mar. 1 Declared and issued a 30% common share dividend. Aug. 1 Sold 20,000 common shares. Nov. 1 Sold 40,000 common shares. Calculate the weighted-average number of common shares outstanding during the year and earnings per share. (Round the "Earnings per share" answer to 2 decimal places.)
Exercise 13-12 Weighted-average shares outstanding and earnings per share LO3 Horticultural Products Inc. reported $1,022,740 profit in 2023 and declared preferred dividends of $63,100. The following changes in common shares outstanding occurred during the year. Jan. 1 90,000 common shares were outstanding. Mar. 1 Declared and issued a 30% common share dividend. Aug. 1 Sold 20,000 common shares. Nov. 1 Sold 40,000 common shares. Calculate the weighted-average number of common shares outstanding during the year and earnings per share. (Round the "Earnings per share" answer to 2 decimal places.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
ss
Transcribed Image Text:Exercise 13-12 Weighted-average shares outstanding and earnings per share LO3
Horticultural Products Inc. reported $1,022,740 profit in 2023 and declared preferred dividends of $63,100. The following changes in
common shares outstanding occurred during the year.
Jan. 1 90,000 common shares were outstanding.
Mar. 1 Declared and issued a 30% common share dividend.
Aug. 1 Sold 20,000 common shares.
Nov. 1 Sold 40,000 common shares.
Calculate the weighted-average number of common shares outstanding during the year and earnings per share. (Round the "Earnings
per share" answer to 2 decimal places.)
Answer is complete but not entirely correct.
Weighted-average outstanding shares
Earnings per share
127,500x
$ 7.53 X
< Prev
3 of 7
Next >
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education