B-15.06 Earnings per share Trinity Railway
Trinity Railway began 20X5 with 900,000 shares of common stock outstanding. On March 1, 20X5, Trinity Railway issued 300,000 additional shares of common stock. 50,000 shares of common stock were reacquired on October 1. Trinity Railway reported net income of $2,275,000 for the year ending December 31, 20X5. Trinity Railway paid $250,000 in common dividends during 20X5. B-15.05 Concepts including OCI/ROA/EBIT/EBITDA/etc. B-15.06 Earnings per share (a) Calculate the weighted-average common shares outstanding for 20X5. (b) Calculate basic earnings per share for 20X5.