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  3. on january 1, 2020, sunland ltd. had 660,000 commo

On January 1, 2020, Sunland Ltd. had 660,000 common shares outstanding. During 2020, it had...

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Accounting

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On January 1, 2020, Sunland Ltd. had 660,000 common shares outstanding. During 2020, it had the following transactions that affected the common share account: Feb. 1 Mar. 1 May 1 Issued 160,000 shares Issued a 18% stock dividend. Acquired 183,000 common shares and retired them. Issued a 3-for-1 stock split Issued 54,000 shares June 1 a Oct. 1 The company's year end is December 31. Determine the weighted average number of shares outstanding as at December 31, 2020. (Round answer to 0 decimal places, e.g. 5,275.) Weighted average number of shares outstanding 2590184 shares Assume that Sunland earned net income of $ 3,373,000 during 2020. In addition, it had 110,000 of 10%, $ 100 par, non- convertible, non-cumulative preferred shares outstanding for the entire year. Because of liquidity limitations, however, the company did not declare and pay a preferred dividend in 2020. Assume that net income included a loss from discontinued operations of $ 460,000, net of applicable income taxes. Calculate earnings per share for 2020. (Round answers to 2 decimal places, e.g. 15.25.) Earnings per share Income from continuing operations $ 1.48 Loss from discontinued operations $ 0.47 i Net income 1.31

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