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Menu ACC212:OB01-Acc212 fall 2017 My Subscriptions/ Courses / ACc212:0801-Acc212 fall 2017 / Ch 14: Analysis and interpretation of Financial State QUESTION 4 0.00 points out of 1 00 PRag question Incorrect Earnings per Share Ewing Corporation began the year with a simple capital structure consisting of 35,000 shares of common stock outstanding. On May 1, 10.000 additional common shares were issued, and another 10.000 common shares were issued on September 1. The company had a net income fer the year of $468,000. Calculate the earnings per share of common stock Earnings per Share 35 Check You have correctly selected 0. Incorrect Marks for this submission: 0.00/1.00. Previous page Next page sscourse.com/platform/mod/quiz/attempt.php?attempt 1464865 O

Explanation / Answer

Statement showing computations Event Dates O/S Share O/S No of Months /12 Months Weighted Shares Beg Bal Jan to April                 35,000.00                            4.00                         12.00                 11,666.67 Issued Shares May to Aug                 45,000.00                            4.00                         12.00                 15,000.00 Stock Div Sep to Dec                 55,000.00                            4.00                         12.00                 18,333.33                 45,000.00 Net income               468,000.00 Weighted shares                 45,000.00 Earning per share = 468,000/45,000                         10.40

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