Howat Corporation earned $360,000 during a period when it had an average of 100,000 shares of...
Howat Corporation earned $360,000 during a period when it had an
average of 100,000 shares of common stock outstanding. The common
stock sold at an average market price of $15 per share during the
period. Also outstanding were 15,000 warrants that could be
exercised to purchase one share of common stock for $10 for each
warrant exercised.
(a) Are the warrants dilutive?
(b) Compute basic earnings per share.
(Round answer to 2 decimal places, e.g.
$2.55.)
(c) Compute diluted earnings per share.
Homework Answers
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Howat Corporation earned $360,000 during a period when it had an
average of 100,000 shares of...
Whispering Corporation earned $422,000 during a period when it had an average of 100,000 shares of...
Whispering Corporation earned $422,000 during a period when it had an average of 100,000 shares of common stock outstanding. The common stock sold at an average market price of $15 per share during the period. Also outstanding were 14,700 warrants that could be exercised to purchase one share of common stock for $10 for each warrant exercised. (a) Are the warrants dilutive? (b) Compute basic earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Basic earnings per share...
Wildhorse Corporation earned $349,000 during a period when it had an average of 100,000 shares of common stock outstand...
Wildhorse Corporation earned $349,000 during a period when it had an average of 100,000 shares of common stock outstanding. The common stock sold at an average market price of $21 per share during the period. Also outstanding were 15,300 warrants that could be exercised to purchase one share of common stock for $14 for each warrant exercised. (a) Are the warrants dilutive? (b) Compute basic earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Basic earnings per share...
Exercise 16-28 Headland Corporation earned $267,000 during a period when it had an average of 100,000...
Exercise 16-28 Headland Corporation earned $267,000 during a period when it had an average of 100,000 shares of common stock outstanding. The common stock sold at an average market price of $18 per share during the period. Also outstanding were 14,100 warrants that could be exercised to purchase one share of common stock for $12 for each warrant exercised. (a) Are the warrants dilutive? (b) Compute basic earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Basic earnings...
Exercise 16-28 Vaughn Corporation earned $355,000 during a period when it had an average of 100,000...
Exercise 16-28 Vaughn Corporation earned $355,000 during a period when it had an average of 100,000 shares of common stock outstanding. The common stock sold at an average market price of $21 per share during the period. Also outstanding were 14,700 warrants that could be exercised to purchase one share of common stock for $14 for each warrant exercised. (a) Are the warrants dilutive? (b) Compute basic earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) (c) Compute...
Brief Exercise 16-13 Rockland Corporation earned net income of $300,000 in 2017 and had 100,000 shares...
Brief Exercise 16-13
Rockland Corporation earned net income of $300,000 in 2017 and
had 100,000 shares of common stock outstanding throughout the year.
Also outstanding all year was $800,000 of 9% bonds, which are
convertible into 16,000 shares of common. Rockland’s tax rate is 40
percent.
Compute Rockland’s 2017 diluted earnings per share.
(Round answer to 2 decimal places, e.g.
3.55.)
Diluted earnings per share
$
Sage Corporation reported net income of $231,840 in 2020 and had 186,000 shares of common stock...
Sage Corporation reported net income of $231,840 in 2020 and had 186,000 shares of common stock outstanding throughout the year. Also outstanding all year were 58,500 options to purchase common stock at $11 per share. The average market price of the stock during the year was $15. Compute diluted earnings per share. (Round answer to 2 decimal places, e.g. 3.55.) Diluted earnings per share $ Pearl Corporation reported net income of $213,860 in 2020 and had 53,900 shares of common...
Culver Company's net income for 2020 is $47,100. The only potentially dilutive securities outstanding were 1,000...
Culver Company's net income for 2020 is $47,100. The only potentially dilutive securities outstanding were 1,000 options issued during 2019, each exercisable for one share at $6. None has been exercised, and 9,700 shares of common were outstanding during 2020. The average market price of Culver's stock during 2020 was $15. (a) Compute diluted earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Diluted earnings per share $ (b) Assume the same facts as those assumed for part...
Novak Company’s net income for 2017 is $53,400. The only potentially dilutive securities outstanding were 1,100...
Novak Company’s net income for 2017 is $53,400. The only
potentially dilutive securities outstanding were 1,100 options
issued during 2016, each exercisable for one share at $6. None has
been exercised, and 10,300 shares of common were outstanding during
2017. The average market price of Novak’s stock during 2017 was
$20.
(a) Compute diluted earnings per share.
(Round answer to 2 decimal places, e.g.
$2.55.)
Diluted earnings per share
$
(b) Assume the same facts as those assumed for
part...
Grouper Company’s net income for 2017 is $45,100. The only potentially dilutive securities outstanding were 1,000...
Grouper Company’s net income for 2017 is $45,100. The only
potentially dilutive securities outstanding were 1,000 options
issued during 2016, each exercisable for one share at $6. None has
been exercised, and 10,400 shares of common were outstanding during
2017. The average market price of Grouper’s stock during 2017 was
$20.
(a) Compute diluted earnings per share.
(Round answer to 2 decimal places, e.g.
$2.55.)
Diluted earnings per
share
$
(b) Assume the same facts as those assumed for
part...
Skysong Company’s net income for 2020 is $48,500. The only potentially dilutive securities outstanding were 1,100...
Skysong Company’s net income for 2020 is $48,500. The only
potentially dilutive securities outstanding were 1,100 options
issued during 2019, each exercisable for one share at $6. None has
been exercised, and 10,200 shares of common were outstanding during
2020. The average market price of Skysong’s stock during 2020 was
$25.
(a) Compute diluted earnings per share.
(Round answer to 2 decimal places, e.g.
$2.55.)
Diluted earnings per
share
$
(b) Assume the same facts as those assumed for
part...
Whispering Corporation earned $422,000 during a period when it had an average of 100,000 shares of common stock outstanding. The common stock sold at an average market price of $15 per share during the period. Also outstanding were 14,700 warrants that could be exercised to purchase one share of common stock for $10 for each warrant exercised. (a) Are the warrants dilutive? (b) Compute basic earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Basic earnings per share...
Wildhorse Corporation earned $349,000 during a period when it had an average of 100,000 shares of common stock outstanding. The common stock sold at an average market price of $21 per share during the period. Also outstanding were 15,300 warrants that could be exercised to purchase one share of common stock for $14 for each warrant exercised. (a) Are the warrants dilutive? (b) Compute basic earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Basic earnings per share...
Exercise 16-28 Headland Corporation earned $267,000 during a period when it had an average of 100,000 shares of common stock outstanding. The common stock sold at an average market price of $18 per share during the period. Also outstanding were 14,100 warrants that could be exercised to purchase one share of common stock for $12 for each warrant exercised. (a) Are the warrants dilutive? (b) Compute basic earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Basic earnings...
Exercise 16-28 Vaughn Corporation earned $355,000 during a period when it had an average of 100,000 shares of common stock outstanding. The common stock sold at an average market price of $21 per share during the period. Also outstanding were 14,700 warrants that could be exercised to purchase one share of common stock for $14 for each warrant exercised. (a) Are the warrants dilutive? (b) Compute basic earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) (c) Compute...
Brief Exercise 16-13
Rockland Corporation earned net income of $300,000 in 2017 and
had 100,000 shares of common stock outstanding throughout the year.
Also outstanding all year was $800,000 of 9% bonds, which are
convertible into 16,000 shares of common. Rockland’s tax rate is 40
percent.
Compute Rockland’s 2017 diluted earnings per share.
(Round answer to 2 decimal places, e.g.
3.55.)
Diluted earnings per share
$
Sage Corporation reported net income of $231,840 in 2020 and had 186,000 shares of common stock outstanding throughout the year. Also outstanding all year were 58,500 options to purchase common stock at $11 per share. The average market price of the stock during the year was $15. Compute diluted earnings per share. (Round answer to 2 decimal places, e.g. 3.55.) Diluted earnings per share $ Pearl Corporation reported net income of $213,860 in 2020 and had 53,900 shares of common...
Culver Company's net income for 2020 is $47,100. The only potentially dilutive securities outstanding were 1,000 options issued during 2019, each exercisable for one share at $6. None has been exercised, and 9,700 shares of common were outstanding during 2020. The average market price of Culver's stock during 2020 was $15. (a) Compute diluted earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Diluted earnings per share $ (b) Assume the same facts as those assumed for part...
Novak Company’s net income for 2017 is $53,400. The only
potentially dilutive securities outstanding were 1,100 options
issued during 2016, each exercisable for one share at $6. None has
been exercised, and 10,300 shares of common were outstanding during
2017. The average market price of Novak’s stock during 2017 was
$20.
(a) Compute diluted earnings per share.
(Round answer to 2 decimal places, e.g.
$2.55.)
Diluted earnings per share
$
(b) Assume the same facts as those assumed for
part...
Grouper Company’s net income for 2017 is $45,100. The only
potentially dilutive securities outstanding were 1,000 options
issued during 2016, each exercisable for one share at $6. None has
been exercised, and 10,400 shares of common were outstanding during
2017. The average market price of Grouper’s stock during 2017 was
$20.
(a) Compute diluted earnings per share.
(Round answer to 2 decimal places, e.g.
$2.55.)
Diluted earnings per
share
$
(b) Assume the same facts as those assumed for
part...
Skysong Company’s net income for 2020 is $48,500. The only
potentially dilutive securities outstanding were 1,100 options
issued during 2019, each exercisable for one share at $6. None has
been exercised, and 10,200 shares of common were outstanding during
2020. The average market price of Skysong’s stock during 2020 was
$25.
(a) Compute diluted earnings per share.
(Round answer to 2 decimal places, e.g.
$2.55.)
Diluted earnings per
share
$
(b) Assume the same facts as those assumed for
part...
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