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Calculate the originally reported earnings per share

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Reference no: EM13328520

Question.1 Calculate EPS and effect of stock split on EPS During the year ended December 31, 2014, Gluco, Inc., split its stock on a 3-for-1 basis. In its annual report for 2013, the firm reported net income of $7,407,840 for 2013, with an average 1,073,600 shares of common stock outstanding for that year. There was no preferred stock.

Required:

a. What amount of net income for 2013 will be reported in Gluco s 2014 annual report?

b. Calculate Gluco s earnings per share for 2013 that would have been reported in the 2013 annual report.

c. Calculate Gluco s earnings per share for 2013 that will be reported in the 2014 annual report for comparative purposes.

Question.2 Calculate EPS and dividends per share before stock split For several years Orbon, Inc., has followed a policy of paying a cash dividend of $0.75 per share and having a 10% stock dividend. In the 2014 annual report, Orbon reported restated earnings per share for 2012 of $3.60.

Required:

a. Calculate the originally reported earnings per share for 2012. Round your answer to two decimal places.

b. Calculate the restated cash dividend per share for 2012 reported in the 2014 annual report for comparative purposes. Round your answer to two decimal places.

Reference no: EM13328520

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