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nevsk [136]
3 years ago
14

Green Thumb Nursery has 53,000 shares outstanding at a market price of $63.57 per share. The earnings per share are $3.57. The f

irm has total assets of $362,000 and total liabilities of $207,000. Today, the firm announced a share repurchase for $117,000 of its stock. What is the earnings per share after the repurchase
Business
1 answer:
mamaluj [8]3 years ago
6 0

Answer: $3.70

Explanation:

Earnings per share = Net income / Number of shares

Net income = Earnings per share * Number of shares

= 3.57 * 53,000

= $189,210

The number of shares that Green Thumb bought back is:

= Stock repurchase amount / Market price of shares

= 117,000 / 63.57

= 1,840 shares

After the repurchase the number of shares is:

= 53,000 original shares - 1,840

= 51,160 shares

New EPS = 189,210 / 51,160

= $3.70

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Which of the following statements is true with regard to the departmental overhead rate method? a. It is logical to use this met
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