A company's net income before income tax is $62,000. Income tax for the year was $5,000....
A company's net income before income tax is $62,000. Income tax for the year was $5,000. Dividend requirements for preferred stock are $20,000. There are 20,000 shares of common stock outstanding. Earnings per common stock are: (Answer to the nearest $0.01, w/ no $ sign needed, e.g. x.xx or 1.23)
Homework Answers
Earnings per common stock
= (Net income - Preferred dividends)/Outstanding common shares
= (62,000 - 5,000 - 20,000) / 20,000 shares
= 37,000 / 20,000
= 1.85 per share
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A company's net income before income tax is $62,000. Income tax
for the year was $5,000....
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Also outstanding all year were 4,800 shares of cumulative preferred
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(Round answer to 2 decimal places, e.g.
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Diluted earnings per
share
$
#8 Net income for 2020 reflects a total effective tax rate of 20%. Included in the...
#8
Net income for 2020 reflects a total effective tax rate of 20%.
Included in the net income figure is a loss of $18,720,000 (before
tax) as a result of a non-recurring major casualty. Preferred stock
dividends of $374,400 were declared and paid in 2020. Dividends of
$1,040,000 were declared and paid to common stockholders in
2020.
Compute earnings per share data as it should appear on the income
statement of Sunland Corporation. (Round answers to 2
decimal places, e.g....
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Riverbed Corporation reported net income of $259,140 in 2020 and
had 52,100 shares of common stock outstanding throughout the year.
Also outstanding all year were 4,800 shares of cumulative preferred
stock, each convertible into 2 shares of common. The preferred
stock pays an annual dividend of $5 per share. Riverbed’s tax rate
is 40%.
Compute Riverbed’s 2020 diluted earnings per share.
(Round answer to 2 decimal places, e.g.
3.55.)
Diluted earnings per
share
$
#8
Net income for 2020 reflects a total effective tax rate of 20%.
Included in the net income figure is a loss of $18,720,000 (before
tax) as a result of a non-recurring major casualty. Preferred stock
dividends of $374,400 were declared and paid in 2020. Dividends of
$1,040,000 were declared and paid to common stockholders in
2020.
Compute earnings per share data as it should appear on the income
statement of Sunland Corporation. (Round answers to 2
decimal places, e.g....
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