Homework Answers
Earning per share = (Net income-Preferred dividend)/Share outstanding
a) Earning per share = (500000-180000)/250000 = 1.28 per share
b) earning per share = (850000-90000)/200000 = 3.80 per share
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Problem #7 - Earnings Per Share (10 points) In 2017, Esther Corporation reported net income of...
In 2017, Linz Corporation reported a discontinued operations loss of $ 840,000, net of tax. It...
In 2017, Linz Corporation reported a discontinued operations loss of $ 840,000, net of tax. It declared and paid preferred stock dividends of $120,000 and common stock dividends of $360,000. During 2017, Linz had a weighted average of 500,000 common shares outstanding. As a result of the discontinued operations loss, net of tax, the earnings per share would decrease by
16. Benedict Corporation reports the following information: $750,000 $210,000 $ 90,000 250,000 Net income Dividends on...
16. Benedict Corporation reports the following information: $750,000 $210,000 $ 90,000 250,000 Net income Dividends on common stock Dividends on preferred stock Weighted average common shares outstanding Benedict should report earnings per share of a. $1.80. b. $2.16 c. $2.64. d. $3.00. 17. Leonard Corporation reports the following information: Correction of overstatement of depreciation expense in prior years, net of tax Dividends declared $ 645,000 480,000 Net income 1,500,000 6,000,000 Retained earnings, 1/1/19, as reported Leonard should report retained earnings,...
EARNINGS PER SHARE EARNINGS PER SHARE WITH MULTIPLE POTENTIAL DILUTERS The following relate to Palmeto Corporation:...
EARNINGS PER SHARE EARNINGS PER SHARE WITH MULTIPLE POTENTIAL DILUTERS The following relate to Palmeto Corporation: Capital Stock: Common Stock, par $1, outstanding on 1/1/X1 90,000 shares Common Stock, issued 05/01/X1 6,000 shares Preferred Stock, par $20, percent (cumulative and nonconvertible) outstanding on 01/01/X1 2,500 shares Income data for year ending 12.31.X1: Income from Continuing Operations $134,000 Gain from Discontinued Operations (net of 40% tax) 10,000 Net Income 144.000 The following securities are outstanding for the entire year: 1. Stock...
Basic earnings per share LO A1 Murray Company reports net income of $945,500 for the year.
QS 11-14 Basic earnings per share LO A1 Murray Company reports net income of $945,500 for the year. It has no preferred stock, and its weighted-average common shares outstanding is 310,000 shares. Compute its basic earnings per share.
Compute earnings per share data as it should appear on the income statement of Blue Spruce...
Compute earnings per share
data as it should appear on the income statement of Blue Spruce
Corporation.
The stockholders' equity section of Blue Spruce Corp, as of December 31, 2017 is as follows: 9% preferred stock, $100 par value, authorized 100,000 shares, outstanding 62,000 shares Common stock, $1 par, authorized and issued 6,300,000 shares Additional paid-in capital Retained earnings $6,200,000 6,300,000 78,400,000 406,600,000 $497,500,000 Net income was $14,240,000 in 2017. This net income figure reflects a total effective tax rate...
Requirement 1h. Compute the earnings per share of common stock for 2018 and 2017. Begin by...
Requirement 1h. Compute the earnings per share of common stock for 2018 and 2017. Begin by selecting the formula to compute the earnings per share of common stock. Earnings per share = (Net income - Preferred dividends) / Weighted average number of common shares outstanding Now, compute the earnings per share for 2018 and 2017. (Round your answers to the nearest cent, $X.XX.) 2018: 2017: Banfield, Inc. Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 2016* Assets Current...
P14.2A Financial Statement Prepare stockholders' equity section, and compute allocation of dividends and earnings per share....
P14.2A Financial Statement Prepare stockholders' equity section, and compute allocation of dividends and earnings per share. (LOL. 2) The post-closing trial balance of Storey Corporation at December 31, 2020, contains the following stockholders' equity accounts. Preferred Stock (15,000 shares issued) $750,000 Common Stock (250,000 shares issued) 2,500,000 Paid-in Capital in Excess of Par-Preferred Stock 250,000 Paid-in Capital in Excess of Par-Common Stock 400,000 Common Stock Dividends Distributable 250,000 Retained Earnings 1,042,000 A review of the accounting records reveals the following....
Exercise 13-16 Earnings per share LO A1 Ecker Company reports $2,700,000 of net income and declares...
Exercise 13-16 Earnings per share LO A1 Ecker Company reports $2,700,000 of net income and declares $388,020 of cash dividends on its preferred stock for the year. At year-end, the company had 678,000 weighted average shares of common stock. 1. What amount of net income is available to common stockholders? Net income To preferred stockholders Net income available to common stockholders 2. What is the company's basic EPS? Basic Earnings per Share Choose Denominator: Choose Numerator: Basic Earnings per Share...
omework Exercise 11-16 Earnings per share LO A1 Ecker Company reports $1,550,000 of net income and...
omework Exercise 11-16 Earnings per share LO A1 Ecker Company reports $1,550,000 of net income and declares $217,000 of cash dividends on its preferred stock for the year. At year- end, the company had 330,000 weighted average shares of common stock 1. What amount of net income is available to common stockholders? Net income To preferred stockholders Net income available to common stockholders $ 2. What is the company's basic EPS? Basic Earnings per Share Choose Denominator: Choose Numerator: Basic...
Problem 5 - In 2019, Useh Corporation reported a discontinued operations loss of $900,000, net of...
Problem 5 - In 2019, Useh Corporation reported a discontinued operations loss of $900,000, net of tax. It declared and paid preferred stock dividends of $120,000 and common stock dividends of $360,000. During 2017, Useh Corp. had a weighted average of 200,000 common shares outstanding. As a result of the discontinued operations loss, net of tax, the earnings per share would decrease by Problem 6 - Discontinued Operations Using the following information (below) complete the Income Statement. Discontinued operations Pre-Tax...
16. Benedict Corporation reports the following information: $750,000 $210,000 $ 90,000 250,000 Net income Dividends on common stock Dividends on preferred stock Weighted average common shares outstanding Benedict should report earnings per share of a. $1.80. b. $2.16 c. $2.64. d. $3.00. 17. Leonard Corporation reports the following information: Correction of overstatement of depreciation expense in prior years, net of tax Dividends declared $ 645,000 480,000 Net income 1,500,000 6,000,000 Retained earnings, 1/1/19, as reported Leonard should report retained earnings,...
EARNINGS PER SHARE EARNINGS PER SHARE WITH MULTIPLE POTENTIAL DILUTERS The following relate to Palmeto Corporation: Capital Stock: Common Stock, par $1, outstanding on 1/1/X1 90,000 shares Common Stock, issued 05/01/X1 6,000 shares Preferred Stock, par $20, percent (cumulative and nonconvertible) outstanding on 01/01/X1 2,500 shares Income data for year ending 12.31.X1: Income from Continuing Operations $134,000 Gain from Discontinued Operations (net of 40% tax) 10,000 Net Income 144.000 The following securities are outstanding for the entire year: 1. Stock...
Compute earnings per share
data as it should appear on the income statement of Blue Spruce
Corporation.
The stockholders' equity section of Blue Spruce Corp, as of December 31, 2017 is as follows: 9% preferred stock, $100 par value, authorized 100,000 shares, outstanding 62,000 shares Common stock, $1 par, authorized and issued 6,300,000 shares Additional paid-in capital Retained earnings $6,200,000 6,300,000 78,400,000 406,600,000 $497,500,000 Net income was $14,240,000 in 2017. This net income figure reflects a total effective tax rate...
P14.2A Financial Statement Prepare stockholders' equity section, and compute allocation of dividends and earnings per share. (LOL. 2) The post-closing trial balance of Storey Corporation at December 31, 2020, contains the following stockholders' equity accounts. Preferred Stock (15,000 shares issued) $750,000 Common Stock (250,000 shares issued) 2,500,000 Paid-in Capital in Excess of Par-Preferred Stock 250,000 Paid-in Capital in Excess of Par-Common Stock 400,000 Common Stock Dividends Distributable 250,000 Retained Earnings 1,042,000 A review of the accounting records reveals the following....
Exercise 13-16 Earnings per share LO A1 Ecker Company reports $2,700,000 of net income and declares $388,020 of cash dividends on its preferred stock for the year. At year-end, the company had 678,000 weighted average shares of common stock. 1. What amount of net income is available to common stockholders? Net income To preferred stockholders Net income available to common stockholders 2. What is the company's basic EPS? Basic Earnings per Share Choose Denominator: Choose Numerator: Basic Earnings per Share...
omework Exercise 11-16 Earnings per share LO A1 Ecker Company reports $1,550,000 of net income and declares $217,000 of cash dividends on its preferred stock for the year. At year- end, the company had 330,000 weighted average shares of common stock 1. What amount of net income is available to common stockholders? Net income To preferred stockholders Net income available to common stockholders $ 2. What is the company's basic EPS? Basic Earnings per Share Choose Denominator: Choose Numerator: Basic...
Problem 5 - In 2019, Useh Corporation reported a discontinued operations loss of $900,000, net of tax. It declared and paid preferred stock dividends of $120,000 and common stock dividends of $360,000. During 2017, Useh Corp. had a weighted average of 200,000 common shares outstanding. As a result of the discontinued operations loss, net of tax, the earnings per share would decrease by Problem 6 - Discontinued Operations Using the following information (below) complete the Income Statement. Discontinued operations Pre-Tax...
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