Riverbed Ltd. provides the following information for calendar 2023:1.Net income $468,4702.Capital Structure a)$9 preferred shares, no par value, cumulative, 6,000 shares outstanding$600,000 No dividends were declared during 2023. b)Common shares, 81,000 shares outstanding on January 1. On April 1, 43,000 shares were issued for cash. On October 1, 19,000 shares were purchased and retired $1,187,500 c)On January 2, 2022, Riverbed purchased Apso Corporation. One of the terms of the purchase was that if Riverbed’s net income for 2022 or subsequent years is $448,470 or more, 53,000 additional common shares would be issued to Apso shareholders.Calculate basic and diluted earnings per share for 2023. (Round answers to 2 decimal places, e.g. 15.25.)Basic earnings per share$enter a dollar amount rounded to 2 decimal places Diluted earnings per share$enter a dollar amount rounded to 2 decimal places

The earnings per share refers to the earnings available to the common stock holders of the company…

Answered: Riverbed Ltd. provides the following…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 19E: Lyon Company shows the following condensed income statement information for the year ended December...

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Riverbed Ltd. provides the following information for calendar 2023:

1.	Net income		$468,470
2.	Capital Structure
	a)	$9 preferred shares, no par value, cumulative, 6,000 shares outstanding	$600,000
		No dividends were declared during 2023.
	b)	Common shares, 81,000 shares outstanding on January 1.
		On April 1, 43,000 shares were issued for cash.
		On October 1, 19,000 shares were purchased and retired		$1,187,500
	c)	On January 2, 2022, Riverbed purchased Apso Corporation.

One of the terms of the purchase was that if Riverbed’s net income for 2022 or subsequent years is $448,470 or more, 53,000 additional common shares would be issued to Apso shareholders.
Calculate basic and diluted earnings per share for 2023. (Round answers to 2 decimal places, e.g. 15.25.)

Basic earnings per share	$enter a dollar amount rounded to 2 decimal places
Diluted earnings per share	$enter a dollar amount rounded to 2 decimal places

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