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, 2011, 2012, and 2013.

4,497

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, 2011, 2012, and 2013. No potential common shares were outstanding during any of the periods shown. (Do not round intermediate calculations and round your final answers to 2 decimal places.)

Earnings per share for the year ended

December 2012 = ?

Don't answer or solve for 2011 or 2013

Comparative Statements of Shareholders’ Equity for Locke Intertechnology Corporation were reported as follows for the fiscal years ending December 31, 2011, 2012, and 2013.

Explanation / Answer

EPS = Net income - (Preferred dividend)/ Outstanding common shares

=($510 -$2)/ 106.5

=$4.77 per share

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