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On January 1, 2023, Jello From the Other Side had 1,031,632 common shares and 9,597 cumulative preferred shares that had a stated dividend of $1.50 per share per year. 20,477 common shares were issued by the company on June 1. 81,464 common shares were repurchased and cancelled by the Company on September 1. The number of preferred shares did not change during the year. Net income for 2023 was $4,238,702. No dividends were declared or paid. Calculate basic earnings per share for 2023. Please round your final answer to two decimal places. Do not round intermediary answers.

On January 1, 2023, Jello From the Other Side had 1,031,632 common shares and 9,597 cumulative preferred shares that had a stated dividend of $1.50 per share per year. 20,477 common shares were issued by the company on June 1. 81,464 common shares were repurchased and cancelled by the Company on September 1. The number of preferred shares did not change during the year. Net income for 2023 was $4,238,702. No dividends were declared or paid. Calculate basic earnings per share for 2023. Please round your final answer to two decimal places. Do not round intermediary answers.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On January 1, 2023, Jello From the Other Side had 1,031,632 common shares and 9,597 cumulative preferred shares that had a stated dividend of $1.50 per share per year. 20,477 common shares were issued by the company on June 1. 81,464 common shares were repurchased and cancelled by the Company on September 1. The number of preferred shares did not change during the year. Net income for 2023 was $4,238,702. No dividends were declared or paid. Calculate basic earnings per share for 2023. Please round your final answer to two decimal places. Do not round intermediary answers.
Transcribed Image Text:On January 1, 2023, Jello From the Other Side had 1,031,632 common shares and 9,597 cumulative preferred shares that had a stated dividend of $1.50 per share per year. 20,477 common shares were issued by the company on June 1. 81,464 common shares were repurchased and cancelled by the Company on September 1. The number of preferred shares did not change during the year. Net income for 2023 was $4,238,702. No dividends were declared or paid. Calculate basic earnings per share for 2023. Please round your final answer to two decimal places. Do not round intermediary answers.
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