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.)
Financial Accounting Intro Concepts Meth/Uses
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ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter17: Synthesis And Extensions
Section: Chapter Questions
Problem 6E
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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
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