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A corporation with 5,000,000 shares of publicly listed stock

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A corporation with 5,000,000 shares of publicly listed stock [#permalink] New post 11 Sep 2008, 03:46
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A corporation with 5,000,000 shares of publicly listed stock reported total earnings of $7.20 per share for the first 9 months of operation. During the final quarter the number of publicly listed shares was increased to 10,000,000 shares, and fourth quarter earnings were reported as $1.25 per share. What are the average annual earnings per share based on the number of shares at the end of the year?



* 1.75
* 2.40
* 3.15
* 3.60
* 4.85
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Re: EPS FOR SHAREHOLDERS [#permalink] New post 11 Sep 2008, 04:31
arjtryarjtry wrote:
A corporation with 5,000,000 shares of publicly listed stock reported total earnings of $7.20 per share for the first 9 months of operation. During the final quarter the number of publicly listed shares was increased to 10,000,000 shares, and fourth quarter earnings were reported as $1.25 per share. What are the average annual earnings per share based on the number of shares at the end of the year?



* 1.75
* 2.40
* 3.15
* 3.60
* 4.85


I get E

5M*7.20+10M*1.25 = 48.5M
48.5M/10M = 4.85
Re: EPS FOR SHAREHOLDERS   [#permalink] 11 Sep 2008, 04:31
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