Comparative Statements of Shareholders’ Equity for Locke Intertechnology Corpora

Question

Comparative Statements of Shareholders’ Equity for Locke Intertechnology Corporation were reported as follows for the fiscal years ending December 31, 2014, 2015, and 2016.

Infer from the statements the events and transactions that affected Locke Intertechnology Corporation's shareholders' equity and compute earnings per share as it would have appeared on the income statements for the years ended December 31, 2014, 2015, and 2016. No potential common shares were outstanding during any of the periods shown. (Enter your answers in millions rounded to 2 decimal places (i.e., 5,500,000 should be entered as 5.50).)

Comparative Statements of Shareholders’ Equity for Locke Intertechnology Corporation were reported as follows for the fiscal years ending December 31, 2014, 2015, and 2016.

Explanation / Answer

Note: EPS= Profit Available for Equity Share Holders / Number of Shares

2014 2015 2016 Net Income      280.00      380.00      420.00 Dividend         15.00         19.00         26.00 Profit Available for Equity Share Holders      295.00      399.00      446.00 Average Number of Shares 44 45.66667 49.44231 EPS           6.70           8.74           9.02

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