Required 1: What is the Basic Earnings Per Share that Viceroy will report this year? Hint: when number of shares change during the term, a simple average does not apply, instead use the weighted average number of common shares. $ Required 2: The weighted average number of common shares for the year is: Required 3: The total earnings considered in the EPS formula for the year is: $
Required 1: What is the Basic Earnings Per Share that Viceroy will report this year? Hint: when number of shares change during the term, a simple average does not apply, instead use the weighted average number of common shares. $ Required 2: The weighted average number of common shares for the year is: Required 3: The total earnings considered in the EPS formula for the year is: $
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 12RE: Given the following year-end information, compute Greenwood Corporations basic and diluted earnings...
Related questions
Question
![Viceroy Ltd has a December 31 year-end. Its ledger account for Common Shares (Class A voting) showed the following
information (dollars amounts are in thousands):
Opening Balance Jan1 = 400,000 shares
Shares issued June 30 = 200,000
Shares issued September 30 = 50,400
Net Income for the Year =$2,000,000
Preferred Shares (Class B Non Voting Cumulative) = 50,000 shares ($600)
Preferred Share Dividend entitlement for the year $129,000
Hint: check EPS formula in the chapter of Financial Statement Analysis
Required 1: What is the Basic Earnings Per Share that Viceroy will report this year? Hint: when number of shares change
during the term, a simple average does not apply, instead use the weighted average number of common shares. $
Required 2: The weighted average number of common shares for the year is:
Required 3: The total earnings considered in the EPS formula for the year is: $](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa226cab2-a963-4e3f-ada4-b544106d80b3%2Fdfb9298f-22a4-42ca-a56c-fec7c79a4859%2Fcx91efv_processed.png&w=3840&q=75)
Transcribed Image Text:Viceroy Ltd has a December 31 year-end. Its ledger account for Common Shares (Class A voting) showed the following
information (dollars amounts are in thousands):
Opening Balance Jan1 = 400,000 shares
Shares issued June 30 = 200,000
Shares issued September 30 = 50,400
Net Income for the Year =$2,000,000
Preferred Shares (Class B Non Voting Cumulative) = 50,000 shares ($600)
Preferred Share Dividend entitlement for the year $129,000
Hint: check EPS formula in the chapter of Financial Statement Analysis
Required 1: What is the Basic Earnings Per Share that Viceroy will report this year? Hint: when number of shares change
during the term, a simple average does not apply, instead use the weighted average number of common shares. $
Required 2: The weighted average number of common shares for the year is:
Required 3: The total earnings considered in the EPS formula for the year is: $
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