Stampede Inc. (SI) is a public company. On January 1, 2020, 65,000 common shares were issued and outstanding. During the year:15,000 additional common shares were issued on April 1.20,000 preferred shares were issued on June 1; these shares are non-cumulative and carry an annual dividend entitlement of $2 per share.No dividends were declared.Net income was $2,000,000.What is the basic EPS for SI for its fiscal 2020 year end? Question 23 options: a) $22.75 b) $25.00 c) $25.70 d) $26.23

Earnings per Shares - Earnings per shares is the calculated by dividing net income to outstanding…

Answered: Stampede Inc. (SI) is a public company.…

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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Stampede Inc. (SI) is a public company. On January 1, 2020, 65,000 common shares were issued and outstanding. During the year:

15,000 additional common shares were issued on April 1.
20,000 preferred shares were issued on June 1; these shares are non-cumulative and carry an annual dividend entitlement of $2 per share.
No dividends were declared.
Net income was $2,000,000.

What is the basic EPS for SI for its fiscal 2020 year end?

Question 23 options:

$22.75

$25.00

$25.70

$26.23

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