(Answered) Exercise - eps treasury stock new shares stock dividends

Accounting

Exercise - EPS; treasury stock; new shares; stock dividends; two years

The Alford Group had 202,000 shares of common stock outstanding at January 1, 2013. The following activities affected common shares during the year. There are no potential common shares outstanding.

2013

Feb. 28 Purchased 6,000 shares of treasury stock.

Oct. 31 Sold the treasury shares purchased on February 28.

Nov. 30 Issued 24,000 new shares.

Dec. 31 Net income for 2013 is $400,000.

2014

Jan. 15 Declared and issued a 2-for-1 stock split.

Dec. 31 Net income for 2014 is $400,000.

Required:

1. Determine the 2013 EPS. (Round your answer to 2 decimal places.)

2. Determine the 2014 EPS.

3. At what amount will the 2013 EPS be presented in the 2014 comparative financial statements?

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