Just need to solve for the number of shares outstanding in 2011 & 2010, Thanks!
ID: 2478169 • Letter: J
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Just need to solve for the number of shares outstanding in 2011 & 2010, Thanks!
Broadening Your Perspective 11-1 The stockholders' equity section of Tootsie Roll Industries' balance sheet is shown in the Consolidated Statement of Financial Position. (Note that Tootsie Roll has two classes of common stock. To answer the following questions, add the two classes of stock together.) TOOTSIE ROLL INDUSTRIES, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF Earnings, Comprehensive Earnings and Retained Earnings (in thousands except per share data) For the year ended December 31, 2010 $528,369 $517,149 $495,592 2011 2009 Net product sales Rental and royalty revenue Total revenue Product cost of goods sold Rental and royalty cost Total costs Product gross margin Rental and royalty gross margin Total gross margin Selling, marketing and administrative expenses Impairment charges Earnings from operations Other income (expense), net Earnings before income taxes Provision for income taxes Net earnings 4,299 3.739 521,448 532,505 221,224 319,775 65,2250 27499,331 349,334 1,088 66263350,422 1,038 852 366,263 163,144 3,098 320,627 175,817 2,887 167,815 -166,242 171,026 108,276178,704 166,242 106216 103,755 106,316 5766 64 25 14,000 60,949 2,946 8,358 63,049 9,892 $53,063$53,157 73,068 20,005 543,938 $43,938 $53,063 $53,157 Net earnings Other comprehensive earnings (loss) Comprehensive earnings 1,183 2,845 $35.198 554246 $56,002 35,198 54,246 Retained earnings at beginning of year Net earnings Cash dividends Stock dividends Retained earnings at end of year $135,866 $147,687 $144,949 43,938 53,157 (18,360) (18,078) (17,790) 46,806 135,866 (32,629) 147,687 4700)5 8 $114,269 Earnings per share Average Common and Class B Common shares outstanding 57,892 58,685 59,425 (The accompanying notes are an integral part of these statements.)Explanation / Answer
Hey Dear Student !!
Number of Shares Outstanding at year end 2010 & 2011 are mentioned in Balance Sheet as Issued Shares:
2011:
36479 Class 1 + 21025 Class 2= 57504 Shares in thousands
2010:
36057 Class 1 + 20466 Class 2= 56523 Shares in thousands
You may get confused that No Shares mentioned in Statement of Retained Earnings used for EPS calculation is different but note that in those shares shares outstanding during the year also get considered on proportionate basis.
Pleasure Teaching You !!
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