Homework Answers
first let us know the weighted average common shares:
320,000 shares which were outstanding through out =320,000*12/12 =>320,000 shares.
160,000 shares which were outstanding from october 1 =>160,000*3 months /12 months=>40,000 shares.
total weighted average shares = 320,000+40,000
=>360,000 shares.
eps = (net income - preferred dividends) / weighted average shares.
=> (1,930,000-400,000) / 360,000 shares.
=>1,530,000 / 360,000 shares
=>$4.25 per share.
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