The charter of a corporation provides for the issuance of 116,000 shares of common stock. Assume that 65,000 shares were originally issued, 13,300 were subsequently reacquired, and there was an additional 9,000 shares authorized but not yet issued. What is the number of shares outstanding? Green Thumb Nursery has 38,000 shares outstanding at a market price of $63.27 per share. The earnings per share are $3.27. The firm has total assets of $332,000 and total liabilities of $192,000. Today, the firm announced a share repurchase for $87,000 of its stock. What is the earnings per share after the repurchase?

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 6PA: EllaJane Corporation was organized several years ago and was authorized to issue 4,000,000 shares of...
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The charter of a corporation provides for the issuance of 116,000 shares of common stock. Assume that 65,000
shares were originally issued, 13,300 were subsequently reacquired, and there was an additional 9,000 shares
authorized but not yet issued. What is the number of shares outstanding? Green Thumb Nursery has 38,000
shares outstanding at a market price of $63.27 per share. The earnings per share are $3.27. The firm has total
assets of $332,000 and total liabilities of $192,000. Today, the firm announced a share repurchase for $87,000
of its stock. What is the earnings per share after the repurchase?
Transcribed Image Text:The charter of a corporation provides for the issuance of 116,000 shares of common stock. Assume that 65,000 shares were originally issued, 13,300 were subsequently reacquired, and there was an additional 9,000 shares authorized but not yet issued. What is the number of shares outstanding? Green Thumb Nursery has 38,000 shares outstanding at a market price of $63.27 per share. The earnings per share are $3.27. The firm has total assets of $332,000 and total liabilities of $192,000. Today, the firm announced a share repurchase for $87,000 of its stock. What is the earnings per share after the repurchase?
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