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Thrifty Co. reported net income of $191,150 for its fiscal year ended January 31, 2017. At the beginning of that fiscal year, 50,000 shares of common stock were outstanding. On October 31, 2016, an additional 15,000 shares were issued. No other changes in common shares outstanding occurred during the year. Also during the year, the company paid the annual dividend on the 20,000 shares of 6%, $50 par value preferred stock that were outstanding the entire year.
Required:
a. Calculate basic earnings per share of common stock for the year ended January 31, 2017. (Round your answer to 2 decimal places.)
Squires Inc. was organized on January 2, 2014 with authorized capital stock consisting of 40,000 shares of 10%, $200 par value preferred, and 300,000 shares of no-par, no stated value common. Prepare the stockholders’ equity section of the balance sh..
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Income Statement for the Year Ended interest from money market account Aspen Ridge maintains its books using GAAP
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