In: Accounting
The Alford Group had 250,000 shares of common stock outstanding
at January 1, 2021. The following activities affected common shares
during the year. There are no potential common shares
outstanding.
2021 | ||||
Feb. | 28 | Purchased 3,000 shares of treasury stock. | ||
Oct. | 31 | Sold the treasury shares purchased on February 28. | ||
Nov. | 30 | Issued 12,000 new shares. | ||
Dec. | 31 | Net income for 2021 is $1,494,000. | ||
2022 | ||||
Jan. | 15 | Declared and issued a 2-for-1 stock split. | ||
Dec. | 31 | Net income for 2022 is $1,494,000. |
Required:
1. Determine the 2021 EPS. (Do not
round intermediate calculations.)
2. Determine the 2022 EPS.
3. At what amount will the 2021 EPS be presented
in the 2022 comparative financial statements?
(For all requirements, Enter your answers in
thousands.)