For several years Orbon Incorporated has followed a policy of paying a cash dividend of $0.61 per share and having a 3% stock dividend. In the 2023 annual report, Orbon reported restated earnings per share for 2021 of $1.08. Required: a. Calculate the originally reported earnings per share for 2021. b. Calculate the restated cash dividend per share for 2021 reported in the 2023 annual report for comparative purposes. Note: For all requirements, do not round intermediate calculations. Round your answer to 2 decimal places. a. Earnings per share b. Dividend per share
For several years Orbon Incorporated has followed a policy of paying a cash dividend of $0.61 per share and having a 3% stock dividend. In the 2023 annual report, Orbon reported restated earnings per share for 2021 of $1.08. Required: a. Calculate the originally reported earnings per share for 2021. b. Calculate the restated cash dividend per share for 2021 reported in the 2023 annual report for comparative purposes. Note: For all requirements, do not round intermediate calculations. Round your answer to 2 decimal places. a. Earnings per share b. Dividend per share
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:For several years Orbon Incorporated has followed a policy of paying a cash dividend of $0.61 per share and having a 3% stock
dividend. In the 2023 annual report, Orbon reported restated earnings per share for 2021 of $1.08.
Required:
a. Calculate the originally reported earnings per share for 2021.
b. Calculate the restated cash dividend per share for 2021 reported in the 2023 annual report for comparative purposes.
Note: For all requirements, do not round intermediate calculations. Round your answer to 2 decimal places.
a. Earnings per share
b. Dividend per share
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