Accounting: What the Numbers Mean
12th Edition
ISBN: 9781308841380
Author: David H. Marshall, Wayne W. McManus, Daniel F. Viele
Publisher: McGraw Hill
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Textbook Question
Chapter 10, Problem 10.8E
Exercise 10.8
LO 9
Calculate EPS and effect of stock split on EPS During the year ended December 31, 2017, Gluco, Inc., split its stock on a 3 for-i basis. In its annual report for 2016, the firm reported net income of $925,980 for 2016, with an average 268,400 shares of common stock outstanding for that year. There was no
Required:
- What amount of net income for 2016 will be reported in Gluco’s 2017 annual report?
- Calculate Gluco’s earnings per share for 2016 that would have been reported in the 2016 annual report.
- Calculate Gluco’s earnings per share for 2016 that will be reported in the 2017 annual report for comparative purposes.
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