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At Dec. 31, 2018, the financial statements of Clevenger Casting Corporation included the following: Net income...

At Dec. 31, 2018, the financial statements of Clevenger Casting Corporation included the following:

Net income for 2018  $500 m

Common stock, $1 par:

  shares outstanding on Jan. 1         150m shares

  shares retired for cash on Feb. 1  24 m

  2-for-1 split on July 23  

  shares sold for cash on Sept. 1  18m

Preferred stock, 10%, $70 par, cumulative, nonconvertible $70m

•

•Determine the basic EPS for 2018.

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Answer #1

Total Numbe of shares out standing at the end of the year. out standing common stock = 150m shares 2um les Treasury stock.. 1

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