Pet Boutique Corp. reported $2,892.970 of profit for 2023. On November 2, 2023, it declared and paid the annual preferred dividends of $213150 On January 1, 2023, Pet Boutique had 98.800 and 588.600 outstanding preferred and common shares, respectively. The following transactions changed the number of shares outstanding during the year: Feb. 1 Declared and issued a 20% common share dividend. Apr.30 Sold 146,280 common shares for cash. May 1 Sold 54,500 preferred shares for cash. Oct.31 Seld 13,450 common shares for cash. a. What is the amount of profit available for distribution to the common shareholders? Earnings available to common shareholders b. What is the weighted average number of common shares for the year? Weighted average outstanding shares
Pet Boutique Corp. reported $2,892.970 of profit for 2023. On November 2, 2023, it declared and paid the annual preferred dividends of $213150 On January 1, 2023, Pet Boutique had 98.800 and 588.600 outstanding preferred and common shares, respectively. The following transactions changed the number of shares outstanding during the year: Feb. 1 Declared and issued a 20% common share dividend. Apr.30 Sold 146,280 common shares for cash. May 1 Sold 54,500 preferred shares for cash. Oct.31 Seld 13,450 common shares for cash. a. What is the amount of profit available for distribution to the common shareholders? Earnings available to common shareholders b. What is the weighted average number of common shares for the year? Weighted average outstanding shares
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Pet Boutique Corp. reported $2,892.970 of profit for 2023, On November 2, 2023, it declared and paid the annual preferred dividends
of $213.150. On January 1, 2023, Pet Boutique had 98.800 and 588,600 outstanding preferred and common shares, respectively. The
following transactions changed the number of shares outstanding during the year:
Feb. 1 Declared and issued a 20% common share dividend.
Sold 146,280 common shares for cash.
Apr.30
May 1 Sold 54,500 preferred shares for cash.
Oct.31 Sold 13,450 common shares for cash.
a. What is the amount of profit available for distribution to the common shareholders?
Earnings available to common shareholders
b. What is the weighted average number of common shares for the year?
Weighted average outstanding shares
Transcribed Image Text:Pet Boutique Corp. reported $2.892.970 of profit for 2023 On November 2, 2023, it declared and paid the annual preferred dividends
of $213,150. On January 1, 2023, Pet Boutique had 98,800 and 588,600 outstanding preferred and common shares, respectively. The
following transactions changed the number of shares outstanding during the year:
Teb. 1 Declared and issued 20% common share dividend
Apr.10 Sold 146,250 common shares for cash,
May 1 Sold 54,500 preferred shares for cash.
Oct 31 Sold 33,459 common shares for cash.
6. What is the amount of profit available for distribution to the common shareholders?
Earrings available to common shareholders
b. What is the weighted-average number of common shares for the year?
Weighted average cudinding shares
e. What is the earnings per share for the year? (Round the final answer to 2 decimal places.)
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