Murray Co.had 60, 000 common shares outstanding on January 1, 2010.The company sold an additional 4, 500 shares on March 1, issued a 3-for-1 stock split on September 1, and reacquired 3, 600 shares on December 1.The company also declared, but has not paid, a dividend on its 10, 000 shares of 5%, $10 par, noncumulative preferred stock.The net loss for the year was $33, 190.
Required:
Compute Murray Co.'s basic earnings per share for 2010.

Question

Quizplus · Accepted Answer

The Answer of Murray Co.had 60, 000 common shares outstanding on January 1, 2010.The company sold an additional 4, 500 shares on March 1, issued a 3-for-1 stock split on September 1, and reacquired 3, 600 shares on December 1.The company also declared, but has not paid, a dividend on its 10, 000 shares of 5%, $10 par, noncumulative preferred stock.The net loss for the year was $33, 190.
Required:
Compute Murray Co.'s basic earnings per share for 2010.

Murray CoHad 60, 000 Common Shares Outstanding on January 1, 2010