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TWU Company began operations on January 1, 2020, when the firm issued 90,000 shares of...

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Question

Accounting

TWU Company began operations on January 1, 2020, when the firm issued 90,000 shares of common stock. TWU issued 60,000 more shares on March 1 and on July 1, they issued another 20,000 shares. On December 1, TWU Company repurchased 6000 shares of outstanding shares. Compute basic EPS for the first year of operation if net income was $100,000. (Round number of shares to the nearest whole number, and your final answer to the nearest cent.)

Group of answer choices

$0.80

$1.67

$0.67

None of these is correct.

$1.11

Answer & Explanation Solved by verified expert
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