muppetstakemanhattanthe

During the year ended Aug. 31 2008, Meijer split its stock on a 3-for-basis. In its annual report for 2007, the firm rported net income of $3,703,920 for 2008, with an average 268,400 shares of common stock outstanding for that year. There was no preferred stock.

A.What amount of net income for 2007 will be reported in Meijers 2008 annual report?
B.Calculate Meijers earnings per share for 2007 that would have been reported in the 2008 annual report?
C. Calculate Meijers earnings per share for 2007 that will be reported in the 2008 annual report of comparative purposes.

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a–net income does not change $3703920

b–3703920/268400= $13.80

c–assuming it was a 3 for 1 split; $4.60

Robert M | Nov 15, 2009