The shareholders’ equity section of Fogo Ltd.’s balance sheet is shown below: During 2018, the f…

The shareholders’ equity section of Fogo Ltd.’s balance sheet is shown below: During 2018, the following occurred: On January 31, 57,000 common shares were issued for $207,000. On July 31, 85, 500 common shares were issued for $357,000. Dividends on preferred stock of $107,000 were declared and paid. Dividends on common shares of $407,000 were declared and paid. Net income for 2018 was $2, 020,000. Required: Calculate the weighted-average number of common shares outstanding during 2018. (Round your answer to the nearest whole dollar amount.) Answer is complete and correct Weighted average number of common shares outstanding 622, 875 Calculate basic earnings per share for the year ended December 31, 2018. (Round your answer to 2 decimal places.) Answer is complete and correct Basic earnings per share $ 3.07 Calculate return on shareholders’ equity for the year ended December 31, 2018. (Round your answer to 2 decimal places.) Answer is complete but not entirely correct Return on shareholders’ equity 16.54 %

 

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