CNZ Co. had 1,270,000 shares outstanding at the beginning of the year—1 June 20X8. During the year, the following transactions occurred: 1 August 20X8—5,700 share options with an exercise price of $42 per share, were exercised. 1 October 20X8—A 5:1 stock split was completed. 1 February 20X9—The company repurchased 507,000 sh
CNZ Co. had 1,270,000 shares outstanding at the beginning of the year—1 June 20X8. During the year, the following transactions occurred: 1 August 20X8—5,700 share options with an exercise price of $42 per share, were exercised. 1 October 20X8—A 5:1 stock split was completed. 1 February 20X9—The company repurchased 507,000 sh
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter13: Corporations: Organization, Stock Transactions, And Dividends
Section: Chapter Questions
Problem 3PA: The following selected accounts appear in the ledger of EJ Construction Inc. at the beginning of the...
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CNZ Co. had 1,270,000 shares outstanding at the beginning of the year—1 June 20X8. During the year, the following transactions occurred: 1 August 20X8—5,700 share options with an exercise price of $42 per share, were exercised. 1 October 20X8—A 5:1 stock split was completed. 1 February 20X9—The company repurchased 507,000 shares for $27 each. For the year ended 31 May 20X9, the company reported net earnings of $1,726,500.
Required:
Compute the basic EPS for the company for the year ended 31 May 20X9. (Do not round intermediate calculations and round your answer to 2 decimal places.)
Basic EPS =
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