Sumner Industries began the year with 140,000 shares of common stock and 10,000 shares of 6%, $100 par value, cumulative, nonconvertible preferred stock. On April 1 it declared a 10% stock dividend on common shares
On June 1, it purchased 15,000 shares of treasury stock. On December 1, Sumner declared a 2 for 1 stock split. Net income for the year was $570,000. Compute weighted average shares of common stock for the year and basic EPS.
Instructions: Write the EPS formula. Show all computations used in your solution.
What will be an ideal response?
Answer:
EPS = 
Business
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Federal government uses _________________________ to regulate
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Use the information in Table 13.11. What can be said about a plan that ships 18,000 gallons from 1 to C; 18,000 gallons from 1 to D; 30,000 gallons from 2 to A; 18,000 gallons from 2 to C; 24,000 gallons from 3 to B; and 30,000 from 3 to D?
A) It is not feasible in terms of wholesaler availabilities. B) It is not feasible in terms of satisfying distribution center demands. C) It is feasible, and the total monthly cost is less than $223,000. D) It is feasible, and the total monthly cost is greater than $227,000.