During the year ended December 31, 2011, Gluco, Inc., split its stock on a 3-for-1 basis. In its annual report for 2010, the firm reported net income of $3,703,920 for 2010, with an average 268,400 shares of common stock outstanding for that year. There was no preferred stock.
(a) What amount of net income for 2010 will be reported in Gluco's 2011 annual report?
Net income: $_______
(b) Calculate Gluco's earnings per share for 2010 that would have been reported in the 2010 annual report. (Round your answer to 2 decimal places)
Earnings per share $: ________
(c) Calculate Gluco's earnings per share for 2010 that will be reported in the 2011 annual report for comparative purposes. (Round your answer to 2 decimal places)
Earnings per share $: _________::© BrainMass Inc. brainmass.com June 4, 2020, 1:02 am ad1c9bdddf
The solution calculatee net income and earnings per share.