On January
Cullumber Ltd
had
common shares outstanding. During
it had the following transactions that outstanding for the entire year.
affected the common share account:
Feb.
Issued
shares
Mar.
Issued a
stock dividend
May
Acquired
common shares and retired them
June
Issued a
for
stock split
Oct.
Issued
sharesAssume that Cullumber earned net income of $ during In addition, it had of $ par, non
convertible, cumulative preferred shares outstanding for the entire year. Because of liquidity limitations however, the company
did not declare and pay a preferred dividend in
Calculate earnings per share for using the weighted average number of shares determined above. Round answer to
decimal places, eg
Earnings per share $
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