The Wall Street Journal routinely publishes summaries of corporate quarterly and

Question

The Wall Street Journal routinely publishes summaries of corporate quarterly and annual earnings reports in a feature called the "Earnings Digest." A typical "digest" report takes the following form.

Quarter ending July 31

9 months ending July 31

(a) Includes a net charge of $26,000,000 from loss on the sale of electrical equipment
(b) Extraordinary gain on Middle East property expropriation

The letter in parentheses following the company name indicates the exchange on which Energy Enterprises' stock is traded-in this case, the American Stock Exchange.

Answer the following questions.

ENERGY ENTERPRISES (A)

Quarter ending July 31

2012 2011 Revenues $2,049,000,000 $1,754,000,000 Net income 97,000,000 (a) 68,750,000 EPS: Net income 1.31 0.93

9 months ending July 31

2012 2011 Revenues $5,578,500,000 $5,065,300,000 Extraordinary item (b) 1,900,000 Net income 102,700,000 (a) 33,250,000 EPS: Net income 1.39 0.48

Explanation / Answer

Hi,

Please find the answer as follows:

Number of Shares Outstanding = 97000000/1.31 = 74045802

Thanks.

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.