in January 1, 2024, Desal Corporation had 100,000 shares of common stock outstanding. The following transactions o 024: March 1: Reacquired 3,eee shares, accounted for as treasury stock. ptember 38: Sold all the treasury shares. December 1: Sold 12,080 new shares for cash. December 31: Reported a net income of $198,500. he following transactions occurred during 2025: January 10: Declared and issued a 25% stock dividend. cember 31: Reported a net income of $268,880. equired: alculate Desal's basic earnings per share for both years for presentation in comparative financial statements that will b e end of 2025. ote: Round your answers to 2 decimal places.
in January 1, 2024, Desal Corporation had 100,000 shares of common stock outstanding. The following transactions o 024: March 1: Reacquired 3,eee shares, accounted for as treasury stock. ptember 38: Sold all the treasury shares. December 1: Sold 12,080 new shares for cash. December 31: Reported a net income of $198,500. he following transactions occurred during 2025: January 10: Declared and issued a 25% stock dividend. cember 31: Reported a net income of $268,880. equired: alculate Desal's basic earnings per share for both years for presentation in comparative financial statements that will b e end of 2025. ote: Round your answers to 2 decimal places.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:On January 1, 2024, Desal Corporation had 100,000 shares of common stock outstanding. The following transactions occurred during
2024:
March 1: Reacquired 3,000 shares, accounted for as treasury stock.
September 30:
December 1:
December 31: Reported a net income of $198,500.
The following transactions occurred during 2025:
January 10: Declared and issued a 25% stock dividend.
December 31: Reported a net income of $268,888.
Sold all the treasury shares.
Sold 12,880 new shares for cash.
Required:
Calculate Desal's basic earnings per share for both years for presentation in comparative financial statements that will be prepared at
the end of 2025.
Note: Round your answers to 2 decimal places.
2024
2025
Earnings per
share
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