Lucky Corporation began the year with a simple capital structure consisting of $240,000 shares of outstanding common stock. On April 1,---5000 additional common shares were issued, and another 30,000 common shares were issued on August 1. The company had net income for the year $589,375. Required Calculate the earnings per share of common stock.
Lucky Corporation began the year with a simple capital structure consisting of $240,000 shares of outstanding common stock. On April 1,---5000 additional common shares were issued, and another 30,000 common shares were issued on August 1. The company had net income for the year $589,375. Required Calculate the earnings per share of common stock.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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- Lucky Corporation began the year with a simple capital structure consisting of $240,000 shares of outstanding common stock. On April 1,---5000 additional common shares were issued, and another 30,000 common shares were issued on August 1. The company had net income for the year $589,375.
Required
Calculate the earnings per share of common stock.
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