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Preferred stock 20 par value 6 cumulative and net income

Question - The following information pertains to Welsh Corp.'s outstanding stock for 2009:

Common stock, $1 par value

Shares outstanding, 1/1/09 10,000

Purchased treasury stock 2/1/09 600

2-for-1 stock split, 4/1/09 10,000

Shares issued, 7/1/09 5,000

Preferred stock, $20 par value, 6% cumulative

Shares outstanding, 1/1/09 4,000

Net income for the year was $125,000.

Required -

A) How much is the weighted average number of shares?

B) How much is the EPS for the Welsh Company?

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Accounting Basics: Preferred stock 20 par value 6 cumulative and net income

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Accounting Basics: Preferred stock 20 par value 6 cumulative and net income

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