Horticultural Products Inc. reported $545, 863 profit in 2023 and declared preferred dividends of $47,200. The following changes in common shares outstanding occurred during the year. Jan. 139,000 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.)
Horticultural Products Inc. reported $545, 863 profit in 2023 and declared preferred dividends of $47,200. The following changes in common shares outstanding occurred during the year. Jan. 139,000 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
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am. 127.
Transcribed Image Text:Horticultural Products Inc. reported $545, 863 profit in 2023 and declared preferred dividends of $47,200. The following changes
in common shares outstanding occurred during the year. Jan. 139,000 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.)
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