How much is net income? General accounting please given answer The Andreas Corporation had 15,000 shares ofcommon stock outstanding on January 1 andissued an additional 2,400 shares on October1. There was no preferred stock outstanding. IfAndreas reports earnings per share of $4,50 forthe year ending December 31, how much is netincome?

Step 1:First, calculate the weighted average number of shares outstanding: Weighted average number…

Answered: The Andreas Corporation had 15,000…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

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Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 20EA: Longmont Corporation earned net income of $90,000 this year. The company began the year with 600...

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The Andreas Corporation had 15,000 shares of common stock outstanding on January 1 and issued an additional 2,400 shares on October 1. There was no preferred stock outstanding. If Andreas reports earnings per share of $4,50 for the year ending December 31, how much is net income?