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Show and calculate the earnings per share for the year

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Reference no: EM132531528

CEM Co. reported net income of $886,000 for 2018. It also declared and paid $68,000 preferred dividends for the same year.

At the beginning of 2018 the company had 58,000 common shares outstanding. The following three event changed the number of common shares outstanding during the year

Note: The company's year-end is December 31.

Dated below Share split, Fraction of year, Weighted Average

Mar 1: Sold 38,000 common shares

June 30 Repurchased and retired 7,000 common shares

Sept 1 Completed a 3 for 1 share split

Required:

Question 1: Show and Calculate the Earnings per Share for the year.

Reference no: EM132531528

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