For several years Orbon Inc. has followed a policy of paying a cash dividend of $0.59 per share and having a 3% stock dividend. In the 2020 annual report, Orbon reported restated earnings per share for 2018 of $1.17. Required: Calculate the originally reported earnings per share for 2018. Calculate the restated cash dividend per share for 2018 reported in the 2020 annual report for comparative purposes. (For all requirements, do not round intermediate calculations. Round your answer to 2 decimal places.)
For several years Orbon Inc. has followed a policy of paying a cash dividend of $0.59 per share and having a 3% stock dividend. In the 2020 annual report, Orbon reported restated earnings per share for 2018 of $1.17. Required: Calculate the originally reported earnings per share for 2018. Calculate the restated cash dividend per share for 2018 reported in the 2020 annual report for comparative purposes. (For all requirements, do not round intermediate calculations. Round your answer to 2 decimal places.)
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 17P: Graham Railways Inc. is evaluating its operations and provides the following information: Required:...
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For several years Orbon Inc. has followed a policy of paying a cash dividend of $0.59 per share and having a 3% stock dividend. In the 2020 annual report, Orbon reported restated earnings per share for 2018 of $1.17.
Required:
- Calculate the originally reported earnings per share for 2018.
- Calculate the restated cash dividend per share for 2018 reported in the 2020 annual report for comparative purposes.
(For all requirements, do not round intermediate calculations. Round your answer to 2 decimal places.)
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