ACC 423 Assignment Solution Charles Austin of the controller’s office of Thompson Corporation was given the assignment of determining the basic

Charles Austin of the controller’s office of Thompson Corporation was given the assignment of determining the basic and diluted earnings per share values for the year ending December 31, 2013. Austin has compiled the information listed below. 

1. The company is authorized to issue 9,518,400 shares of $10 par value common stock. As of December 31, 2012, 2,379,600 shares had been issued and were outstanding. 

2. The per share market prices of the common stock on selected dates were as follows. 

Price per Share 

July 1, 2012 $20 

January 1, 2013 21 

April 1, 2013 25 

July 1, 2013 11 

August 1, 2013 10.5 

November 1, 2013 9 

December 31, 2013 10