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Charra [1.4K]
3 years ago
11

Kevin’s Bacon Company Inc. has earnings of $7 million with 2,500,000 shares outstanding before a public distribution. Eight hund

red thousand shares will be included in the sale, of which 500,000 are new corporate shares, and 300,000 are shares currently owned by Ann Fry, the founder and CEO. The 300,000 shares that Ann is selling are referred to as a secondary offering and all proceeds will go to her. The net price from the offering will be $18.50 and the corporate proceeds are expected to produce $1.4 million in corporate earnings. a. What were the corporation’s earnings per share before the offering? (Do not round intermediate calculations and round your answer to 2 decimal places.)
Business
1 answer:
seraphim [82]3 years ago
8 0

Answer:

$2.80

Explanation:

The computation of the corporation’s earnings per share before the offering is shown below:-

Corporation’s earnings per share before the offering = Earnings ÷ Outstanding shares

= $7,000,000 ÷ 500,000

= $2.80

Therefore for computing the corporation’s earnings per share before the offering we simply applied the above formula.

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Why is it important to look at external sources of information when exploring product and service information?
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<em><u>Functional </u></em>

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2 years ago
One year ago, you purchased $6,000 worth of a mutual fund at an offering price of $38.10 a share. Today, the fund distributed $0
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a. 7.48%

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