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Details please. On January 1, 2015, Warren Corporation had 1,000,000 shares...

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Accounting

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On January 1, 2015, Warren Corporation had 1,000,000 shares of common stock outstanding. On March 1, the corporation issued 150,000 new shares to raise additional capital. On July 1, the corporation declared and issued a 2-for-1 stock split. On October 1, the corporation purchased on the market 500,000 of its own outstanding shares. On January 1, 2015, Warren Corporation also had 1,000,000 shares of 5% preferred stock, $50 par value outstanding. There were no changes to the preferred shares in 2015. On December 31, 2015, Warren Corporation reported net income of $38 million. Instructions a) Compute the basic earnings per share for 2015. b) Compute the diluted earnings per share for 2015. c) Compute the dividend payout ratio for 2015. d) Who gets more dividends, the preferred or the common shareholders? e) Compute the weighted average number of shares to be used in computing earnings per share for 2015 between the common and preferred shareholders

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