Part A
Event |
Dates outstanding |
Shares outstanding |
restatement |
Fraction of year |
Weighted shares |
Beginning Balance, including 5% stock dividend |
Jan. 1–Apr. 1 |
2100000 |
2.0 |
3/12 |
1050000 |
Conversion of preferred stock |
Apr. 1–July 1 |
2520000 |
2.0 |
3/12 |
1260000 |
Stock split |
July 1–Aug. 1 |
5040000 |
1/12 |
420000 |
|
Issued shares for building |
Aug. 1–Nov. 1 |
5178240 |
3/12 |
1335000 |
|
Purchase of Treasury stock |
Nov. 1–Dec. 31 |
5316000 |
2/12 |
886000 |
|
Total number of common shares to compute basic earnings per share |
4951000 |
2000000*1.05 = 2100000
(2100000+400000+(400000*5%)) = 2520000
2520000*2 = 5040000
5040000+300000 = 5340000
5340000-24000 = 5154240
Part 2
Number of shares to compute basic earnings per |
4951000 |
Convertible preferred stock—still outstanding ((300000) X 2 X 1.05) |
630000 |
Convertible preferred stock—converted (400000 X 2 X 1.05 X 3/12) |
210000 |
Number of shares to compute diluted earnings per share |
5791000 |
Part 3
After-tax net income |
11550000 |
|
Preferred stock dividends |
||
March 31 (700,000 X $0.75) |
525000 |
|
June 30, September 30, and December 31 (300000 X $0.75 X 3) |
675000 |
(1200000) |
Adjusted net income |
$10350000 |
The (CMA adapted) is 884 Chapter 18 Dilutive Securities and Earwigu fel Prepare in good form...
help me asap please 884 Chapter 16 Diutive Soul soffice of Thomp the year ending stocka Instru 818 Cha Id Prepane, in good form, a comparative income statement, tion for the fiscal years ended May 31, 2017 and May 31, 2016. THE Aport and should display the appropriate camings per share presentations Instructie P16- finan should no a) T May (b) T inco id P107 1104,5) GROUPWORK Computation of Basic and Dlluted FPS) Charles Austin of the controller's office of...
Charles Austin of the controller's office of Coronado Corporation was given the assignment of determining the basic and diluted earnings per share values for the year ending December 31, 2018. Austin has compiled the information listed below. 1. The company is authorized to issue 7,680,000 shares of $10 par value common stock. As of December 31, 2017, 1.920,000 shares had been issued and were outstanding 2. The per share market prices of the common stock on selected dates were as...
Problem 16-7 Charles Austin of the controller's office of Cheyenne Corporation was given the assignment of determining the basic and diluted earnings per share values for the year ending December 31, 2018. Austin has compiled the information listed below. 1. The company is authorized to issue 7,800,000 shares of $10 par value common stock. As of December 31, 2017, 1.950,000 shares had been issued and were outstanding, 2. The per share market prices of the common stock on selected dates...
Charles Austin of the controller's office of Pharoah Corporation was given the assignment of determining the basic and diluted earnings per share values for the year ending December 31, 2018. Austin has compiled the information listed below. 1. The company is authorized to issue 7.720,000 shares of $10 par value common stock. As of December 31, 2017, 1,930,000 shares had been issued and were outstanding. 2. The per share market prices of the common stock on selected dates were as...
Charles Austin of the controller’s office of Sarasota Corporation was given the assignment of determining the basic and diluted earnings per share values for the year ending December 31, 2021. Austin has compiled the information listed below. 1. The company is authorized to issue 8,080,000 shares of $10 par value common stock. As of December 31, 2020, 2,020,000 shares had been issued and were outstanding. 2. The per share market prices of the common stock on selected dates were as...
Charles Austin of the controller’s office of Ayayai Corporation was given the assignment of determining the basic and diluted earnings per share values for the year ending December 31, 2021. Austin has compiled the information listed below. 1. The company is authorized to issue 8,120,000 shares of $10 par value common stock. As of December 31, 2020, 2,030,000 shares had been issued and were outstanding. 2. The per share market prices of the common stock on selected dates were as...
Charles Austin of the controller’s office of Bonita Corporation was given the assignment of determining the basic and diluted earnings per share values for the year ending December 31, 2021. Austin has compiled the information listed below. 1. The company is authorized to issue 7,680,000 shares of $10 par value common stock. As of December 31, 2020, 1,920,000 shares had been issued and were outstanding. 2. The per share market prices of the common stock on selected dates were as...
Your answer is incorrect. Try again. Charles Austin of the controller’s office of Crane Corporation was given the assignment of determining the basic and diluted earnings per share values for the year ending December 31, 2021. Austin has compiled the information listed below. 1. The company is authorized to issue 8,000,000 shares of $10 par value common stock. As of December 31, 2020, 2,000,000 shares had been issued and were outstanding. 2. The per share market prices of the common...
Please help me figure out parts A, B, and C. Please show calculations. P16.7 (LO 4, 5) Groupwork (Computation of Basic and Diluted EPS) Charles Austin of the controller's office of Thompson Corporation was given the assignment of determining the basic and diluted earnings per share values for the year ending December 31, 2021. Austin has compiled the information listed below. 1. The company is authorized to issue 8,000,000 shares of $10 par value common stock. As of December 31,...
Problem 16-07 Charles Austin of the controller’s office of Waterway Corporation was given the assignment of determining the basic and diluted earnings per share values for the year ending December 31, 2021. Austin has compiled the information listed below. Problem 16-07 Charles Austin of the controller's artice of Waterway Corporation was given the assignment of determining the basic and diluted eamings por share valuns for the year ending December 31, 2021. Austin has compiled the intormation listed below. 1. The...