K 30% D ew History Bookmarks Tools Window Help Save &Exit; Submit Homework#12 0

Question

K 30% D ew History Bookmarks Tools Window Help Save &Exit; Submit Homework#12 0 Required Information The Foundational 15 [LO15-2, LO15-3, LO15-4, LO15-5, L015-6 The following Informmation applies to the questions displayed below Markus Company's common stock sold for $6.50 per share at the end of this year. The company pald a common Part 1 of 4 stock dividend of $0.91 per share this year. It also provided the following data excerpts from this years financial Ending Beginning Balance Balance $ 57,500 50,000 $ 108.000 75.000 $ 83.500 108,000 $ 249.000 $ 233.000 975,00O $1066,000 $ 9750o $ 109,500 240,000 $ 216,000 s 185,000 $ 185,000 %735,000 870.000 Total liabiities and stockholders' equity $ 975,000 $1086,000 Accounts rece vable Inventony Current assets Current lablities Total lablties Common stock, $1 par value Total stockholders' equity 1234ENext MacBook Pro 5 8 0

Explanation / Answer

Calculation of earnings per share EPS is the amount of net income earned per share of stock outstanding. The formula to calculate EPS is as under, EPS = (Net Income - Preferred dividend)/Weighted average Common shares outstanding Net Income = $279825 Preferred dividend = 0 Weighted average Common shares outstanding = 185000 shares EPS = ($279825 - $0)/185000 EPS = $1.51 per share

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