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In: Accounting

5. Jasper Corp, has the following Stockholders’ Equity account balances and activity for Year 2. Net...

5. Jasper Corp, has the following Stockholders’ Equity account balances and activity for Year 2.

Net income

$14,750,000

Retained earnings

$13,250,000

Preferred stock shares outstanding

1,000

Common stock shares outstanding at January 1, Year 2

6,855,000

Additional Common shares issued at July 1, Year 2

20,000

3-for-1 stock split at December 31, Year 2

Preferred Dividends

$15,000

Common Dividends

$58,000

Year 1 EPS

$2.06

Earnings per share =         __________________ / ___________________* = ________

* Compute Denominator: Weighted average common shares outstanding

Date

Shares

Portion of year

Weighted Average Shares

January 1, Y2

6,855,000

July 1, Y2

Weighted Average December 31 before split

Stock split 3-for-1

*Total Weighted Average, 12/31/Y2

Note: Year 1 restated

$2.06 / 3 =_____

Did performance improve in Year 2 as compared to Year 1? _________________Why?

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