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On January 1, 2014, Jerry Co. had 25,000 shares of common stock outstanding. On April 1, 2014 it had a 10% stock dividend. On October 1, 2015 it had a 4:1 stock split.
Required:
a.Determine the weighted average common stock outstanding used in the basic earnings per share computation at 12/31/2014.
b.Determine the weighted average common stock outstanding used in the basic earnings per share computation at 12/31/2015.
c.Jerry will be issuing comparative financial statements for 2014 and 2015. What number of shares should be used in the earnings per share computation for 2014 and 2015? Why?
ATC
Stands for Average Total Cost, which is the total cost of production (fixed plus variable costs) divided by the number of units produced.
Economic Profits
A reiteration emphasizing the calculation that includes total revenues minus total costs, where total costs consider both the explicit and implicit costs.
Competitive Price-searcher Market
A market structure where firms have some degree of market power, enabling them to set prices above marginal cost, but must consider competitor prices to attract consumers.
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