Required informationISSUHTICOC OL INCW SNICSSovran Financial Corparation reported net income of $154 million for Year 1 (tax rate 25XIts capital structure included the following:Common StockJan. 160 milion common shares were outstandingMar. 112 million new shares wee sold60 million shares+ 12 million new sharesJan.क. |Mar. Apr. May June July Aug. Sep. Oct. Nov. Dec.0:00 / 2:07720p1xCKnowledge Check 01On December 31, Year 1, the Reba Company had 120,000 shares of common stock issued and outstanding. On July 1, Year 2, thecompany sold 23,000 additional shares for cash. Reba's net income for the year ended December 31, Year 2, was $568,000. What isthe basic earnings per share? (Round your answer to 2 decimal places.)Basic earnings per sharePrevof 18Next >IMG-1894.jpgIMG-1895.jpg

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Description: Required informationISSUHTICOC OL INCW SNICSSovran Financial Corparation reported net income of $154 million for Year 1 (tax rate 25XIts capital structure included the following:Common StockJan. 160 milion common shares were outstandingMar. 112 mill

Answer) Calculation of Basic Earnings Per Share Basic Earnings per Share = Net Income/ Weighted…

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Knowledge Check 01 On December 31, Year 1, the Reba Company had 120,000 shares of common stock issued and outstanding. On July 1, Year 2, the company sold 23,000 additional shares for cash. Reba's net income for the year ended December 31, Year 2, was $568,000. What is the basic earnings per share? (Round your answer to 2 decimal places.) Basic earnings per share

Knowledge Check 01 On December 31, Year 1, the Reba Company had 120,000 shares of common stock issued and outstanding. On July 1, Year 2, the company sold 23,000 additional shares for cash. Reba's net income for the year ended December 31, Year 2, was $568,000. What is the basic earnings per share? (Round your answer to 2 decimal places.) Basic earnings per share

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter12: Corporations: Organization, Stock Transactions, And Dividends

Section: Chapter Questions

Problem 12.4ADM: BBT and Regions Financial: Earnings per share BBT Corporation and Regions Financial Corporation are...

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