Excel Applications for Accounting Principles
4th Edition
ISBN: 9781111581565
Author: Gaylord N. Smith
Publisher: Cengage Learning
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Chapter 13, Problem 3R
During 2012, Ponce Towers issued 30,000 additional shares of common stock on June 1 and 24,000 on November 1. The company earned $602,000 from continuing operations and $28,000 from another segment of the business that was discontinued during the year. Use your completed worksheet to prepare a computation of earnings per share for 2012. Erase any data in the Data Section that are not required for 2012. Save the solution for 2012 as EPS3 and print the results.
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During the year ended December 31, 2014, Gluco, Inc., split its stock on a 3-for-1 basis. In its annual report for 2013, the firm reported net income of $7,407,840 for 2013, with an average 1,073,600 shares of common stock outstanding for that year. There is no preferred stock.
a. What amount of net income for 2013 will be reported in Gluco's 2014 annual report?
b. Calculate Gluco's earnings per share for 2013 that would have been reported in the 2013 annual report.
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Excel Applications for Accounting Principles
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