ACCT 304 Chapter 16 QUIZ
E1618 EPS Simple Capital Structure Kendall Inc presented the following dat
Net income $2,200,000
Preferred stock: 50,000 shares outstanding,
$100 par, 8% cumulative, not convertible 5,000,000
Common stock: Shares outstanding 1/1 600,000
Issued for cash, 5/1 300,000
Acquired treasury stock for cash, 8/1 150,000
2-for-1 stock split, 10/1
1. Number of common shares issued and outstanding at December 31, 2011 2,400,000
2. Shares issued as a result of a 10% stock dividend on September 30, 2012 240,000
3. Shares issued for cash on March 31, 2013 2,000,000
Number of common shares issued and outstanding at December 31, 2013 4,640,000
4. A 2-for-1 stock split of Gogean- common stock took place on March 31, 2014
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