Determine the basic and diluted earnings per share

Reference no: EM13743740

Charles Austin of the controller's office of Thompson Corporation was given the assignment of determining the basic and diluted earnings per share values for the year ending December 31, 2013. Austin has compiled the information listed below.

1. The company is authorized to issue 9,518,400 shares of $10 par value common stock. As of December 31, 2012, 2,379,600 shares had been issued and were outstanding.

2. The per share market prices of the common stock on selected dates were as follows.

Price per Share

July 1, 2012 $20

January 1, 2013 21

April 1, 2013 25

July 1, 2013 11

August 1, 2013 10.5

November 1, 2013 9

December 31, 2013 10

Reference no: EM13743740

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