Essay
Burns Company reported $752.4 million in net income in 2016.On January 1,2016,the company had 400 million shares of common stock outstanding.On March 1,2016,24 million new shares of common stock were sold for cash.On June 1,2016,the company's common stock split 2 for 1.On July 1,2016,8 million shares were reacquired as treasury stock.
Required:
Compute Burns' basic earnings per share for the year ended December 31,2016.
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(400M x 2)+ (24M x 10 ÷ 12 x 2...View Answer
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