Homework Answers
Diluted earnings per share = (Net Income + Interest on debt after tax)/(Weighted average shares+Potential shares)
= (717000+2,960,000*8%(1-45%))/(243,000+49,300)
= $2.8985
i.e. $2.90
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Multiple Choice Question 111 Bramble Corp. had net income for the year of $717000 and a...
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"Sunland Company had net income for Year 18 of $611000. The average number of shares outstanding for the period was 209000 shares. The average number of shares under outstanding options, at an option price of $31 per share is 12600 shares. The average market price of the common stock during the year was $36. What should Sunland Company report for diluted earnings per share for the year ended Year 18? (rounded to the nearest penny)" $2.76 $2.78 $2.90 $2.92
Bramble Corp. purchased Cullumber Company and agreed to give stockholders of Cullumber Company 9300 additional shares...
Bramble Corp. purchased Cullumber Company and agreed to give
stockholders of Cullumber Company 9300 additional shares in 2020 if
Cullumber Company’s net income in 2019 is $505000; in 2018
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income for 2018 of $456000 and has an average number of common
shares outstanding for 2018 of 94000 shares. What should Bramble
report as diluted earnings per share for 2018? (rounded to the
nearest penny)
$4.85
$4.08
$4.41
$5.37
Multiple Choice Question 105 Swifty Corporation had net income for 2018 of $591000. The average number...
Multiple Choice Question 105 Swifty Corporation had net income for 2018 of $591000. The average number of shares outstanding for the period was 196000 shares. The average number of shares under outstanding options, at an option price of $29 per share is 12600 shares. The average market price of the common stock during the year was $35. What should Swity Corporation report for diluted earnings per share for the year ended 2018? (rounded to the nearest penny) $2.87 $2.98 $3.02...
Giovanni Corp. had $1,000,000 net income in 2021. On January 1, 2021 there were 200,000 shares...
Giovanni Corp. had $1,000,000 net income in 2021. On January 1, 2021 there were 200,000 shares of common stock outstanding. There are 30,000 options to buy common stock at $40 a share outstanding. The market price of the common stock averaged $50 during 2021. The tax rate is 30%. During 2021, there were 40,000 shares of preferred stock outstanding. The preferred is $100 par, pays $3.50 a year dividend. Giovanni issued $2,000,000 of 8% convertible bonds at face value during...
Brief Exercise 16-13 Waterway Corporation camed net income of $370,000 in 2017 and had 104,000 shares of common sto...
Brief Exercise 16-13 Waterway Corporation camed net income of $370,000 in 2017 and had 104,000 shares of common stock outstanding throughout the year. Also outstanding 9% bonds, which are convertible into 19,000 shares of common. Waterway's tax rate is 30 percent. year was 10,000 of Compute Waterway's 2017 diluted earnings per share. (Round answer to 2 decimal places, e.. 3.55.) Diluted earnings per share Click if you would like to show Work for this question Open Show Work
Brief Exercise 16-14 Nash Corporation reported net income of $213,860 in 2017 and had 53,00 shares...
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21. The following intormation was taken from the books and records of Eurton Corp 1. Net...
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Testbank Problem 145 Sandhill Corp. had $750,000 net income in 2021. On January 1, 2021 there...
Testbank Problem 145 Sandhill Corp. had $750,000 net income in 2021. On January 1, 2021 there were 200,000 shares of common stock outstanding. On April 1, 23,200 shares were issued and on September 1, Sandhill bought 29,400 shares of treasury stock. There are 28,000 options to buy common stock at $40 a share outstanding. The market price of the common stock averaged $50 during 2021. The tax rate is 40%. During 2021, there were 41,000 shares of convertible preferred stock...
Multiple Choice Question 108 Marigold Corporation had net income of $250000 and paid dividends of $380000...
Multiple Choice Question 108
Marigold Corporation had net income of $250000 and paid dividends
of $380000 to common stockholders and $11000 to preferred
stockholders in 2020. Marigold Corporation’s common stockholders’
equity at the beginning and end of 2020 was $860000 and $1140000,
respectively. There are 92000 weighted-average shares of common
stock outstanding.
MarigoldCorporation’s return on common stockholders’ equity
was
23.90%.
11.90%.
20.96%.
10.44%.
Click if you would like to
Show Work for this question:
Open Show Work
Question Attempts: 0...
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...
Bramble Corp. purchased Cullumber Company and agreed to give
stockholders of Cullumber Company 9300 additional shares in 2020 if
Cullumber Company’s net income in 2019 is $505000; in 2018
Cullumber Company’s net income is $525000. Bramble Corp. has net
income for 2018 of $456000 and has an average number of common
shares outstanding for 2018 of 94000 shares. What should Bramble
report as diluted earnings per share for 2018? (rounded to the
nearest penny)
$4.85
$4.08
$4.41
$5.37
Multiple Choice Question 105 Swifty Corporation had net income for 2018 of $591000. The average number of shares outstanding for the period was 196000 shares. The average number of shares under outstanding options, at an option price of $29 per share is 12600 shares. The average market price of the common stock during the year was $35. What should Swity Corporation report for diluted earnings per share for the year ended 2018? (rounded to the nearest penny) $2.87 $2.98 $3.02...
Brief Exercise 16-13 Waterway Corporation camed net income of $370,000 in 2017 and had 104,000 shares of common stock outstanding throughout the year. Also outstanding 9% bonds, which are convertible into 19,000 shares of common. Waterway's tax rate is 30 percent. year was 10,000 of Compute Waterway's 2017 diluted earnings per share. (Round answer to 2 decimal places, e.. 3.55.) Diluted earnings per share Click if you would like to show Work for this question Open Show Work
Brief Exercise 16-14 Nash Corporation reported net income of $213,860 in 2017 and had 53,00 shares of common stock outstanding throughout the year. Als outstanding year were 4500 shares of cumulative preferred stock, each convertible into 2 shares of common. The preferred stock pays an annual dividend of $5 per share Na's tax rate is 50% Compute Nash's 2017 diluted earnings per share. (Round answer to 2 decimal places.. 3.55.) Diluted earnings per shares Click if you would like to...
21. The following intormation was taken from the books and records of Eurton Corp 1. Net income, 2017 $ 4,500 2. Capital structure: a. Convertible bonds: 30 bonds issued and outstanding. Each $100 par value bond is convertible into 10 shares of common. b. Noncumulative $50 par value preferred stock, 20 shares outstanding C. Common stock, $1 par, 2,000 shares issued and outstanding $ 3.000 $1,000 $ 2,000 3. Other data: a. The bonds, preferred, and common shares were outstanding...
Multiple Choice Question 108
Marigold Corporation had net income of $250000 and paid dividends
of $380000 to common stockholders and $11000 to preferred
stockholders in 2020. Marigold Corporation’s common stockholders’
equity at the beginning and end of 2020 was $860000 and $1140000,
respectively. There are 92000 weighted-average shares of common
stock outstanding.
MarigoldCorporation’s return on common stockholders’ equity
was
23.90%.
11.90%.
20.96%.
10.44%.
Click if you would like to
Show Work for this question:
Open Show Work
Question Attempts: 0...
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...
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