At January 1, 2013, Foxmore Company Had 80,000 Shares of Common

question 127

Essay

At January 1, 2013, Foxmore Company had 80,000 shares of common stock outstanding and no preferred stock. During the year they issued 40,000 additional shares of common stock. At December 31, 2013, Foxmore had 120,000 shares of common stock outstanding, and no preferred stock. In addition, Foxmore reported the following results for the year 2013:
Please prepare earnings per share information in the following format. (Round all amounts to nearest cent.)

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Definitions:

Majority

More than half of a particular group or amount; often referring to the greater part of a specific population or quantity.

Repudiated

Refers to the rejection or denial of a claim or contract.

Binding

Describes an agreement, contract, or decision that is legally enforceable, requiring parties involved to adhere to the terms set forth.

Competition Act

Legislation aimed at preventing anti-competitive practices in the marketplace, ensuring fair competition, and protecting consumers from unfair business practices.