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borishaifa [10]
3 years ago
11

Burns Company reported $1,161.405 million in net income in 2021. On January 1, 2021, the company had 409 million shares of commo

n stock outstanding. On March 1, 2021, 29.4 million new shares of common stock were sold for cash. On June 1, 2021, the company's common stock split 2 for 1. On July 1, 2021, 13.4 million shares were reacquired as treasury stock.Required: Compute Burns' basic earnings per share for the year ended December 31, 2021
Business
1 answer:
CaHeK987 [17]3 years ago
4 0

Answer:

Earnings Per Share = $1.35

Explanation:

To calculate the basic earnings per share, we first need to compute the Weighted Average No. of Shares Outstanding:

Jan.1: 409 * (12/12)    = 409 * 2                                    = 818 million

Mar.1: 29.4 * (10/12)   = 24.5 * 2                                   =  49 million

July 1: 13.4 * (6/12)                                                        =   <u>(6.7) million</u>

Weighted Average No. of Shares Outstanding:        =   860.3 million

Note: We multiplied by 2 in Jan.1 and Mar.1 transactions to account for common stock split 2 for 1.

Now calculate the Earnings Per Share:

Earnings Per Share =   <u>                        Net Income                                </u>

                                    Weighted Average No. of Shares Outstanding

Earnings Per Share =       <u>1,161.405</u>

                                            860.3

Earnings Per Share = $1.35

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Personal qualifications, occupational requirement, responsibilities, financial remuneration (pay) , working conditions.

Days off and vacation flexibility are 2 examples of things that fall under the working conditions category.

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3 years ago
A merchandising company's budget includes the following data for January: Sales: $400,000; COGS: $270,000; Administrative salari
Maslowich

Answer:

Total general and administrative expenses           $

Administrative salaries                                        1,250

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Explanation:

The total general and administrative expenses include administrative salaries, rent on administrative building and miscellaneous administrative expenses.

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Answer:

Missing word <em>"a. What must the six-month risk-free rate be in Japan"</em>

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a. Spot rate = 1 US $ = 1.2377 Aus.dollar

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<u>1.2356</u> = <u>(1 + i Ad)</u>

1.2377     (1 + 0.05)

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