Homework Answers
Stanley Department Stores
| Numerator | / | Denominator | = | Earnings per share | |
| Basic EPS | 986,000 | / | 150,000 | = | $ 6.5733 |
| Diluted EPS | 989,600 | / | 165,800 | = | $ 5.9686 |
Workings:
Basic EPS = Net income available for common stockholder/weighted average no of common stock outstanding
= 986,000/150,000
= $ 6.5733
Diluted EPS:
Issue proceeds from stock options = 36,000 * $29
= $ 1,044,000
Fair value per share = $34.80
Shares issued with consideration = $1,044,000/34.80
= 30,000
Shares issued without consideration = 36,000 - 30,000
= 6,000 shares will be considered for the purpose calculation of diluted EPS
Debt amount = $48,000
Assumed par value of share = $10
So, number of shares issued = 48,000/10
= 4,800
Increase in Income = $48,000 * 10% * 75%
= $3,600
Weighted average number of shares = (150,000*12/12) + (6,000*12/12) + (15,000*4/12) + (4,800*12/12)
= 165,800
Diluted EPS = ($ 986,000+3,600)/165,800
= $5.9686
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