At December 31, 2016, the balance sheet of Goode Corporation included 80 million common shares. On October 1, 2017, Goode retired 4 million shares as part of a share repurchase program. Net income for the year ended December 31, 2017, was $400 million. Goode’s 2017 EPS should be:

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At December 31, 2016, the balance sheet of Goode Corporation included 80 million common shares. On October 1, 2017, Goode retired 4 million shares as part of a share repurchase program. Net income for the year ended December 31, 2017, was $400 million. Goode’s 2017 EPS should be:

A) $4.94.
B) $5.00.
C) $5.06.
D) $5.26.

Answer: C) $5.06.

We hope you have got the correct answer to your question “At December 31, 2016, the balance sheet of Goode Corporation included 80 million common shares. On October 1, 2017, Goode retired 4 million shares as part of a share repurchase program. Net income for the year ended December 31, 2017, was $400 million. Goode’s 2017 EPS should be:”, which was part of Accounting MCQs & Answers. Thanks for choosing us.

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