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Apex Ltd. provides the following information for calendar 2024 1. Net income $420,000...

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Question

Accounting

Apex Ltd. provides the following information for calendar 2024
1. Net income $420,000
2. Capital Structure
a) $8 preferred shares, no par value, cumulative, 6,000 shares
No dividends were declared during 2024.
b) Common shares, 76,000 shares outstanding on January 1.
On April 1,40,000 shares were issued for cash. On October 1,
50% stock dividends were declared and distributed.
On December 1,15,000 shares were purchased and retired 159,000 shares
Instructions
1. Calculate basic earnings per share for 2024, showing both the earnings available to common shareholders and the WACS.

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