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linda_us, Master's Degree
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Customer Question

LOCKE INTERTECHNOLOGY CORPORATION Statements of Shareholders' Equity For the Years Ended Dec. 31, 2011, 2012, and 2013 ($ in millions) Preferred Common Total Stock, Stock, Additional Retained Shareholders' $10 par $1 par Paid-in Capital Earnings Equity Bal. at Jan. 1, 2011 65 515 1,886 2,466 Sale of preferred shares 9 450 459 Sale of common shares, 7/1 8 78 86 Cash dividend, preferred (1) (1) Cash dividend, common (15) (15) Net income 280 280 ____________________________________________ Bal. at Dec. 31, 2011 9 73 1,043 2,150 3,275 Retirement of common shares, 4/1 (6) (33) (18) (57) Cash dividend, preferred (1) (1) Cash dividend, common (19) (19) 3-for-2 split effected in the form of a common stock dividend, 8/12 33.5 (33.5) Net income 380 380 _____________________________________________________________ Bal. at Dec. 31, 2012 9 100.5 976 2,492 3,578 10% common stock dividend, 5/1 10.05 110 (120.05) Sale of common shares, 9/1 3 35 38 Cash dividend, preferred (3) (3) Cash dividend, common (26) (26) Net income 420 420 ___________________________________________________________ Bal. at Dec. 31, 2013 9 113.55 1,121.5 2,762.95 4,007 Required: Infer from the statements the events and transactions that affected Locke Intertechnology Corporation's shareholders' equity and compute earnings per share as it would have appeared on the income statements for the years ended December 31, 2011, 2012, and 2013. No potential common shares were outstanding during any of the periods shown. (Do not round intermediate calculations and round your final answers to 2 decimal places.)

Submitted: 1 year ago.
Category: Single Problem
Expert:  F. Naz replied 1 year ago.

Please upload data at or and also mention is it your graded assignment or practice questions and also mention your deadline, thanks.

Customer: replied 1 year ago.

Greetings I just uploaded an image of the problem, to Just answer. Please view image, I am suppose to take the data provided on the image and then calculate what the earnings per share would be for 2011, 2012 and 2013. Only need to calculate earnings per share nothing more :)

Many Thanks

Expert:  Manal Elkhoshkhany replied 1 year ago.



I can help with the assignment. I actually am done with the solution, but I am not sure if you know that Just Answer offers a premium service where I can help you through email (more private and secure as no one else would be able to see the solutions but you). This is an additional service and involves an additional charge, but since I agree with your offer, I can offer you this service for the lowest possible price ($5). I will send you an offer and if interested, please accept the offer.


Expert:  Manal Elkhoshkhany replied 1 year ago.

Hi, I see you have declined the offer. Does that mean you no longer need help, or do you want me to just post the solution here? Please advise

Thank you