9.3 Net income was $659,250 for the year. Throughout the year the company had outstanding 18,00...
9.3 Net income was $659,250 for the year. Throughout the year the company had outstanding 18,00 shares of $2.50, $50 par value preferred stock and 105,000 shares of common stock. Calculate basic earnings per share of common stock for the year.
Homework Answers
Preferred dividend = Number of preferred share x Dividend per share
= 18,000 x 2.5
= $45,000
Earnings per share = (Net income - Preferred dividend)/Number of common shares
= (659,250 - 45,000)/105,000
= 614,250/105,000
= $5.85
kindly give a positive rating if you are satisfied with the solution. Please ask if you have any query related to the question, Thanks.
Add Answer to:
9.3 Net income was $659,250 for the year. Throughout the year
the company had outstanding 18,00...
Net income was $240,000 for the year. Throughout the year the company had outstanding 12,000 shares of 6%, $50 par value...
Net income was $240,000 for the year. Throughout the year the company had outstanding 12,000 shares of 6%, $50 par value preferred stock and 75,000 shares of common stock. Basic earnings per share of common stock for the year were: a) $2.72 b) $3.68 c) $2.34 d) $3.20
Big Apple Cabins has net income of $725,000. Throughout the year, the company had 150,000 shares...
Big Apple Cabins has net income of $725,000. Throughout the year, the company had 150,000 shares of common stock outstanding. Also, the company has 25,000 shares of preferred stock that pay a dividend of $5.00 per share that is convertible into 5 shares of common stock for each share of preferred. The preferred stock is considered to be dilutive. The tax rate for Big Apple Cabins is 40%. What are the diluted earnings per share for Big Apple Cabins? Select...
B’s net income for 2016 was $1,385,000. Throughout 2016, B had 575,000 shares of $1 par...
B’s net income for 2016 was $1,385,000. Throughout 2016, B had 575,000 shares of $1 par value common stock outstanding and 30,000 shares of 3%, $100 par value, cumulative preferred stock outstanding. During 2016, B distributed $180,000 of dividends on its preferred stock and $115,000 of dividends on its common stock. Compute B’s basic earnings per share. ROUND TO NEAREST PENNY.
3. Dulcinea Corporation had $750,000 of net income in 2019. On January 1, 2019, there were...
3. Dulcinea Corporation had $750,000 of net income in 2019. On January 1, 2019, there were 200,000 shares of common stock outstanding. On April 1, 16,000 shares were issued. On July 1, Dulcinea issued a 10% stock dividend and on September 1. Dulcinea bought 20,000 shares of treasury stock. The market price of the common stock averaged $40 during 2019. The tax rate is 40%. During 2019, there were 10.000 shares of cumulative, convertible preferred stock outstanding. The preferred is...
The net income of Foster Furniture, Inc., amounted to $1,800,000 for the current year. a. Compute...
The net income of Foster Furniture, Inc., amounted to $1,800,000 for the current year. a. Compute the amount of earnings per share assuming that the shares of capital stock outstanding throughout the year consisted of: 1. 400,000 shares of $1 par value common stock and no preferred stock. 2. 100,000 shares of 8 percent, $100 par value preferred stock and 300,000 shares of $5 par value common stock. b. Is the earnings per share figure computed in part a(2) considered...
Ringmeup Inc. had net income of $160,000 for the year ended December 31, 2019. At the...
Ringmeup Inc. had net income of $160,000 for the year ended December 31, 2019. At the beginning of the year, 39,000 shares of common stock were outstanding. On May 1, an additional 18,000 shares were issued. On December 1, the company purchased 4,600 shares of its own common stock and held them as treasury stock until the end of the year. No other changes in common shares outstanding occurred during the year. During the year, Ringmeup paid the annual dividend...
Ringmeup Inc. had net income of $182,300 for the year ended December 31, 2019. At the...
Ringmeup Inc. had net income of $182,300 for the year ended December 31, 2019. At the beginning of the year, 40,000 shares of common stock were outstanding. On May 1, an additional 18,000 shares were issued. On December 1, the company purchased 4,500 shares of its own common stock and held them as treasury stock until the end of the year. No other changes in common shares outstanding occurred during the year. During the year, Ringmeup paid the annual dividend...
Ringmeup Inc. had net income of $197,300 for the year ended December 31, 2019. At the...
Ringmeup Inc. had net income of $197,300 for the year ended December 31, 2019. At the beginning of the year, 39,000 shares of common stock were outstanding. On May 1, an additional 20,000 shares were issued. On December 1, the company purchased 4,400 shares of its own common stock and held them as treasury stock until the end of the year. No other changes in common shares outstanding occurred during the year. During the year, Ringmeup paid the annual dividend...
The net income of Foster Furniture, Inc. amounted to $1,800,000 for the current year. Compute the amount of earnings per...
The net income of Foster Furniture, Inc. amounted to $1,800,000 for the current year. Compute the amount of earnings per share assuming that the shares of capital stock outstanding throughout the year consisted of 400,000 shares of $1 par value common stock and no preferred stock, 100,000 shares of 8 percent, $100 par value, cumulative preferred stock and 300,000 shares of $5 par value common stock, Is the earnings per share figure computed in part a(2) considered to be basic...
Problem 19-187 Paul Company had 100,000 shares of common stock outstanding on January 1, 2018. On...
Problem 19-187 Paul Company had 100,000 shares of common stock outstanding on January 1, 2018. On September 30, 2018, Paul sold 55,000 shares of common stock for cash. Paul also had 13,500 shares of convertible preferred stock outstanding throughout 2018. The preferred stock is $100 par, 7%, and is convertible Into 3 shares of common for each share of preferred. Paul also had 570,9%, convertible bonds outstanding throughout 2018. Each $1,000 bond is convertible Into 30 shares of common stock....
3. Dulcinea Corporation had $750,000 of net income in 2019. On January 1, 2019, there were 200,000 shares of common stock outstanding. On April 1, 16,000 shares were issued. On July 1, Dulcinea issued a 10% stock dividend and on September 1. Dulcinea bought 20,000 shares of treasury stock. The market price of the common stock averaged $40 during 2019. The tax rate is 40%. During 2019, there were 10.000 shares of cumulative, convertible preferred stock outstanding. The preferred is...
Ringmeup Inc. had net income of $182,300 for the year ended December 31, 2019. At the beginning of the year, 40,000 shares of common stock were outstanding. On May 1, an additional 18,000 shares were issued. On December 1, the company purchased 4,500 shares of its own common stock and held them as treasury stock until the end of the year. No other changes in common shares outstanding occurred during the year. During the year, Ringmeup paid the annual dividend...
Ringmeup Inc. had net income of $197,300 for the year ended December 31, 2019. At the beginning of the year, 39,000 shares of common stock were outstanding. On May 1, an additional 20,000 shares were issued. On December 1, the company purchased 4,400 shares of its own common stock and held them as treasury stock until the end of the year. No other changes in common shares outstanding occurred during the year. During the year, Ringmeup paid the annual dividend...
Problem 19-187 Paul Company had 100,000 shares of common stock outstanding on January 1, 2018. On September 30, 2018, Paul sold 55,000 shares of common stock for cash. Paul also had 13,500 shares of convertible preferred stock outstanding throughout 2018. The preferred stock is $100 par, 7%, and is convertible Into 3 shares of common for each share of preferred. Paul also had 570,9%, convertible bonds outstanding throughout 2018. Each $1,000 bond is convertible Into 30 shares of common stock....
Most questions answered within 3 hours.
-
find the critical value associated with a right sided hypothesis of
the mean using a sample...
asked 47 minutes ago -
Which of the following statements is true with respect to a
simple linear regression model?
a....
asked 1 hour ago -
The energy required to remove an electron from a surface of a
solid element is called...
asked 2 hours ago -
How would you train your employees to avoid risks of using
mobile devices?
asked 3 hours ago -
Assume Kw = 1.01 ✕ 10−14
For pure water, we can calculate [H3O+ ] = [OH...
asked 4 hours ago -
Suppose that on a temperature scale X, water boils at 203.0°X
and freezes at -105.7°X. What...
asked 5 hours ago -
BaS crystallizes in a cubic unit cell with S2- ions on each
corner and each face....
asked 5 hours ago -
A. 0≤P(Oi)≤10≤P(Oi)≤1 for each i
B. P(Oi)≤0P(Oi)≤0
C. P(Oi)=1+P(OCi)P(Oi)=1+P(OiC)
D. P(Oi)≥1P(Oi)≥1
If an experiment consists of...
asked 7 hours ago -
A battery has an emf of 9.20V and an internal resistance of 1.20
ohm. a)What resistance...
asked 7 hours ago -
The area of an elastic circular loop decreases at a constant
rate, dA/dt = −6.60×10−3 m2/s...
asked 8 hours ago -
The denaturation of proteins can be described by the
equilibrium
F⇌U
where F and U represent...
asked 9 hours ago -
Please answer what the maximum and minimum force is, and the
angle on the ion is...
asked 9 hours ago