Reference no: EM133130033
Question - On January 1, 2020, Cullumber Ltd. had 522,000 common shares outstanding. During 2020, it had the following transactions that affected the common share account:
Feb. 1 Issued 172,000 shares.
Mar. 1 Issued a 17% stock dividend.
May 1 Acquired 189,000 common shares and retired them.
June 1 Issued a 2-for-1 stock split.
Oct. 1 Issued 57,000 shares.
The company's yearend is December 31.
Determine the weighted average number of shares outstanding as at December 31, 2020.
Assume that Cullumber earned net income of $3,561,000 during 2020. In addition, it had 100,000 of 10%, $100 par, non-convertible, non-cumulative preferred shares outstanding for the entire year. Because of liquidity limitations, however, the company did not declare and pay a preferred dividend in 2020.
Calculate earnings per share for 2020, using the weighted average number of shares determined above.
Assume that Cullumber earned net income of $3,561,000 during 2020. In addition, it had 100,000 of 10%, $100 par, non-convertible, cumulative preferred shares outstanding for the entire year. Because of liquidity limitations, however, the company did not declare and pay a preferred dividend in 2020.
Calculate earnings per share for 2020, using the weighted average number of shares determined above.
Assume that Cullumber earned net income of $3,561,000 during 2020. In addition, it had 100,000 of 10%, $100 par, non-convertible, non-cumulative preferred shares outstanding for the entire year. Because of liquidity limitations, however, the company did not declare and pay a preferred dividend in 2020. Assume that net income included a loss from discontinued operations of $413,000, net of applicable income taxes.
Calculate earnings per share for 2020.
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