The Alford Group had 310,000 shares of common st shares during the year. There are no potential comm 2021 Feb. 28 Purchased 21,000 shares of treasury st Oct. 31 Sold the treasury shares purchased on Nov. 30 Issued 84,000 new shares. Dec. 31 Net income for 2021 is $909,000. 2022 Jan. 15 Declared and issued a 2-for-1 stock sp Dec. 31 Net income for 2022 is $909,000. Required: 1. Determine the 2021 EPS. (Do not round intermed 2. Determine the 2022 EPS. 3. At what amount will the 2021 EPS be presented in (For all requirements, Enter your answers in thous
The Alford Group had 310,000 shares of common st shares during the year. There are no potential comm 2021 Feb. 28 Purchased 21,000 shares of treasury st Oct. 31 Sold the treasury shares purchased on Nov. 30 Issued 84,000 new shares. Dec. 31 Net income for 2021 is $909,000. 2022 Jan. 15 Declared and issued a 2-for-1 stock sp Dec. 31 Net income for 2022 is $909,000. Required: 1. Determine the 2021 EPS. (Do not round intermed 2. Determine the 2022 EPS. 3. At what amount will the 2021 EPS be presented in (For all requirements, Enter your answers in thous
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The Alford Group had 310,000 shares of common stock outstanding at January 1, 2021. The following activities affected common
shares during the year. There are no potential common shares outstanding.
2021
Feb. 28 Purchased 21,000 shares of treasury stock.
Oct. 31 Sold the treasury shares purchased on February 28.
Nov. 30 Issued 84,000 new shares.
Dec. 31 Net income for 2021 is $909,000.
2022
Jan. 15 Declared and issued a 2-for-1 stock split.
Dec. 31 Net income for 2022 is $909,000.
Required:
1. Determine the 2021 EPS. (Do not round intermediate calculations.)
2. Determine the 2022 EPS.
3. At what amount will the 2021 EPS be presented in the 2022 comparative financial statements?
(For all requirements, Enter your answers in thousands.)
1.
23
Numerator / Denominator
$ 909.000/
$ 909,000/
$ 909,000/
303,000 =
788,000
606,000
Earnings per Share
3,00
1.15
1.50
$
$
$
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