problems use the following information to answer pr 17 62 17 63 harleycorp has been 4314556

problems use the following information to answer pr 17 62 17 63 harleycorp has been 4314556

PROBLEMS

Use the following information to answer Pr. 17-62–17-63.

HarleyCorp. has been operating successfully for the past fifteen years. However, during recent years, its common shares outstanding changed as shown below. The corporation uses the calendar year as its fiscal year.

201720162015

Shares outstanding, Jan 1 300,000240,000200,000

Shares sold, Apr 201540,000

25% stock dividend, Jul 1, 201660,000

2-for-1 stock split, Jul 1, 2017300,000

Shares sold, Oct 1, 2017100,000

Shares outstanding, Dec 31700,000300,000240,000

Net Income$ 750,000660,000598,000

Pr. 17-62Weighted average calculations

Calculate the weighted average number of shares outstanding for each year.

Pr. 17-63Basic earnings per share

Assuming there were no preferred shares outstanding, calculate EPS for each year based on your calculations in Pr. 17-62.

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