n January 1, 2021, Tonge Industries had outstanding 720,000 common shares ($1 par) that originally sold for $30 per share, and 6,000 shares of 10% cumulative preferred stock ($100 par), convertible into 60,000 common shares
On January 1, 2021, Tonge Industries had outstanding 720,000 common shares ($1 par) that originally sold for $30 per share, and 6,000 shares of 10% cumulative preferred stock ($100 par), convertible into 60,000 common shares.
On October 1, 2021, Tonge sold and issued an additional 16,000 shares of common stock at $39. At December 31, 2021, there were 23,000 incentive stock options outstanding, issued in 2020, and exercisable after one year for 23,000 shares of common stock at an exercise price of $36. The market price of the common stock at year-end was $54. During the year, the price of the common shares had averaged $46.
Net income was $860,000. The tax rate for the year was 25%.
Required:
Compute basic and diluted EPS for the year ended December 31, 2021. (Round "Earnings per share" answers to 2 decimal places. Enter your answers in thousands.)
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n January 1, 2021, Tonge Industries had outstanding 720,000 common shares ($1 par) that originally sold for $30 per share, and 6,000 shares of 10% cumulative preferred stock ($100 par), convertible into 60,000 common shares
On January 1, 2018 Tonge Industries had outstanding 660,000 common shares ($1 par) that originally sold for $30 per share, and 9,000 shares of 10% cumulative preferred stock ($100 par), convertible i...
On January 1, 2018 Tonge Industries had outstanding 660,000 common shares ($1 par) that originally sold for $30 per share, and 9,000 shares of 10% cumulative preferred stock ($100 par), convertible into 90,000 common shares. On October 1, 2018, Tonge sold and issued an additional 16,000 shares of common stock at $33. At December 31, 2018, there were 25,000 incentive stock options outstanding, issued in 2017, and exercisable after one year for 25,000 shares of common stock at an exercise...
On January 1, 2021, Tonge Industries had outstanding 580,000 common shares ($1 par) that originally sold...
On January 1, 2021, Tonge Industries had outstanding 580,000 common shares ($1 par) that originally sold for $25 per share, and 5,000 shares of 10% cumulative preferred stock ($100 par), convertible into 50,000 common shares. On October 1, 2021, Tonge sold and issued an additional 12,000 shares of common stock at $34. At December 31, 2021, there were 21,000 incentive stock options outstanding, issued in 2020, and exercisable after one year for 21,000 shares of common stock at an exercise...
On January 1, 2018, Tonge Industries had outstanding 580,000 common shares ($1 par) that originally sold...
On January 1, 2018, Tonge Industries had outstanding 580,000 common shares ($1 par) that originally sold for $25 per share, and 5,000 shares of 10% cumulative preferred stock ($100 par), convertible into 50,000 common shares. On October 1, 2018, Tonge sold and issued an additional 12,000 shares of common stock at $34. At December 31, 2018, there were 21,000 incentive stock options outstanding, issued in 2017, and exercisable after one year for 21,000 shares of common stock at an exercise...
On January 1, 2021, Tonge Industries had outstanding 800,000 common shares ($1 par) that originally sold...
On January 1, 2021, Tonge Industries had outstanding 800,000 common shares ($1 par) that originally sold for $20 per share, and 3,000 shares of 10% cumulative preferred stock ($100 par), convertible into 30,000 common shares. On October 1, 2021, Tonge sold and issued an additional 20,000 shares of common stock at $36. At December 31, 2021, there were 28,000 incentive stock options outstanding, issued in 2020, and exercisable after one year for 28,000 shares of common stock at an exercise...
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On January 1, 2018 Tonge Industries had outstanding 660,000 common shares ($1 par) that originally sold for $30 per share, and 9,000 shares of 10% cumulative preferred stock ($100 par), convertible into 90,000 common shares. On October 1, 2018, Tonge sold and issued an additional 16,000 shares of common stock at $33. At December 31, 2018, there were 25,000 incentive stock options outstanding, issued in 2017, and exercisable after one year for 25,000 shares of common stock at an exercise...
On January 1, 2021, Tonge Industries had outstanding 800,000 common shares ($1 par) that originally sold for $20 per share, and 3,000 shares of 10% cumulative preferred stock ($100 par), convertible into 30,000 common shares. On October 1, 2021, Tonge sold and issued an additional 20,000 shares of common stock at $36. At December 31, 2021, there were 28,000 incentive stock options outstanding, issued in 2020, and exercisable after one year for 28,000 shares of common stock at an exercise...
On December 31, 2017, Berclair Inc. had 540 million shares of common stock and 4 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2018, Berclair purchased 24 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2018. Four million treasury shares were sold on October 1. Net income for the year ended December 31, 2018, was $900 million. The income tax rate...
Exercise 19-19 EPS; stock dividend; nonconvertible preferred stock; treasury shares; shares sold; stock options, convertible bonds [LO19-5,19-6, 19-7, 19-8, 19-9) On December 31, 2017. Berclair Inc. had 260 million shares of common stock and 6 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding on March 1, 2018, Berclair purchased 24 million shares of its common stock as treasury stock Berclair issued a 5% common stock dividend on July 1, 2018. Four million treasury shares were...
On December 31, 2017, Berclair Inc. had 220 million shares of
common stock and 4 million shares of 9%, $100 par value cumulative
preferred stock issued and outstanding. On March 1, 2018, Berclair
purchased 24 million shares of its common stock as treasury stock.
Berclair issued a 5% common stock dividend on July 1, 2018. Four
million treasury shares were sold on October 1. Net income for the
year ended December 31, 2018, was $110 million. The income tax rate...
On December 31, 2017, Berclair Inc. had 250 million shares of common stock and 10 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2018, Berclair purchased 90 million shares of its common stock as treasury stock. Berclair issued a 4% common stock dividend on July 1, 2018. Four million treasury shares were sold on October 1. Net income for the year ended December 31, 2018, was $500 million. Also outstanding at December...
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