skip to Main Content
The smarter way
to do assignments.

Please note that this is just a preview of a school assignment posted on our website by one of our clients. If you need assistance with this question too, please click on the Order button at the bottom of the page to get started.

On January 1, 2007, Vermont Maple Corp. had 2,650,000 shares of common stock issued and outstanding. During 2007, it had the following transactions that affected the common stock account.Mar. 1 Issued 250,000 shares in exchange for landApr. 1 Acquired 200,000 shares of treasury stockJuly 1 Issued a 20% stock dividendSept. 1 Reissued 240,000 shares of treasury stock (adjusted for 20% stock dividend)Oct. 1 Issued a 2-for-1 stock splitInstructions(a) Determine the weighted average number of shares outstanding as of December 31, 2007.(b) Assume that Vermont Maple Corp. earned net income of $8,352,000 during 2007. In addition, it had 200,000 shares of 9%, $100 par value nonconvertible, cumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the company did not declare and pay a preferred dividend in 2006 or 2007. Compute earnings per share for 2007, using the weighted average number of shares determined in part (a).(c) Assume the same facts as in part (b), except that the preferred stock was noncumulative. Computeearnings per share for 2007.(d) Assume the same facts as in part (b), except that net income included a loss from discontinuedoperations of $500,000, net of $300,000 in income taxes. Compute earnings per share for 2007.


Clicking on this button will take you to our custom assignment page. Here you can fill out all the additional details for this particular paper (grading rubric, academic style, number of sources etc), after which your paper will get assigned to a course-specific writer. If you have any issues/concerns, please don’t hesitate to contact our live support team or email us right away.

How It Works        |        About Us       |       Contact Us

© 2018 | Intelli Essays Homework Service®

Back To Top