Homework Answers
Answer:
Grouper Corporation
Computation of the diluted earnings per share:
Amount towards stock options at exercise price of $8 = 64,200 shares x $8 = $513,000
Value of options at current market price =64,200 shares x $12 = $770,400
Value in current share = $770,400 - $513,000 = $256,800
Diluted shares = ($256,800/$770,400) x 64,200 shares = 21,400 shares
Outstanding shares = 256,000
Net income = $569,000
Diluted earnings per share = (total income – preference dividends)/outstanding shares + diluted shares
Since, no information about preference shares is provided, no preference dividends exists.
Hence, diluted earnings per share = ($569,000)/ (256,000 + 21,400) = $2.06
Diluted earnings per share = $2.06
Add Answer to:
Grouper Corporation reported net income of $569.000 in 2017 and had 256,000 shares of common stock...
Sage Corporation reported net income of $231,840 in 2020 and had 186,000 shares of common stock...
Sage Corporation reported net income of $231,840 in 2020 and had 186,000 shares of common stock outstanding throughout the year. Also outstanding all year were 58,500 options to purchase common stock at $11 per share. The average market price of the stock during the year was $15. Compute diluted earnings per share. (Round answer to 2 decimal places, e.g. 3.55.) Diluted earnings per share $ Pearl Corporation reported net income of $213,860 in 2020 and had 53,900 shares of common...
Brief Exercise 16-15 Marigold Corporation reported net income of $421,590 in 2017 and had 203,000 shares...
Brief Exercise 16-15 Marigold Corporation reported net income of $421,590 in 2017 and had 203,000 shares of common stock outstanding throughout the year. Also outstanding all year were 49,500 options to purchase common stock at $11 per share. The average market price of the stock during the year was $15. Compute diluted earnings per share. (Round answer to 2 decimal places, e.g. 3.55.) Diluted earnings per share
Shamrock Corporation reported net income of $300,780 in 2017 and had 45,900 shares of common stock...
Shamrock Corporation reported net income of $300,780 in 2017 and had 45,900 shares of common stock outstanding throughout the year. Also outstanding all year were 4,900 shares of cumulative preferred stock, each convertible into 2 shares of common. The preferred stock pays an annual dividend of $5 per share. Shamrock’s tax rate is 30%. Compute Shamrock’s 2017 diluted earnings per share. (
X Your answer is incorrect. Flint Corporation reported net income of $221,650 in 2020 and had...
X Your answer is incorrect. Flint Corporation reported net income of $221,650 in 2020 and had 182,000 shares of common stock outstanding throughout the year. Also outstanding all year were 58,500 options to purchase common stock at $10 per share. The average market price of the stock during the year was $15. Compute diluted earnings per share. (Round answer to 2 decimal places, eg. 3.55.) Diluted earnings per share 1.13
Riverbed Corporation reported net income of $259,140 in 2020 and had 52,100 shares of common stock...
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
$
Brief Exercise 16-14 Nash Corporation reported net income of $213,860 in 2017 and had 53,00 shares...
Brief Exercise 16-14 Nash Corporation reported net income of $213,860 in 2017 and had 53,00 shares of common stock outstanding throughout the year. Als outstanding year were 4500 shares of cumulative preferred stock, each convertible into 2 shares of common. The preferred stock pays an annual dividend of $5 per share Na's tax rate is 50% Compute Nash's 2017 diluted earnings per share. (Round answer to 2 decimal places.. 3.55.) Diluted earnings per shares Click if you would like to...
Swifty Corporation had 1500000 shares of common stock issued and outstanding at December 31, 2017. On...
Swifty Corporation had 1500000 shares of common stock issued and outstanding at December 31, 2017. On July 1, 2018 an additional 1250000 shares were issued for cash. Swifty also had stock options outstanding at the beginning and end of 2018 which allow the holders to purchase 371000 shares of common stock at $20 per share. The average market price of Swifty's common stock was $25 during 2018. What is the number of shares that should be used in computing diluted...
Brief Exercise 16-13 Waterway Corporation camed net income of $370,000 in 2017 and had 104,000 shares of common sto...
Brief Exercise 16-13 Waterway Corporation camed net income of $370,000 in 2017 and had 104,000 shares of common stock outstanding throughout the year. Also outstanding 9% bonds, which are convertible into 19,000 shares of common. Waterway's tax rate is 30 percent. year was 10,000 of Compute Waterway's 2017 diluted earnings per share. (Round answer to 2 decimal places, e.. 3.55.) Diluted earnings per share Click if you would like to show Work for this question Open Show Work
Ivanhoe Corporation earned net income of $275,800 in 2020 and had 116,000 shares of common stock...
Ivanhoe Corporation earned net income of $275,800 in 2020 and
had 116,000 shares of common stock outstanding throughout the year.
Also outstanding all year was $900,000 of 9% bonds, which are
convertible into 17,000 shares of common. Ivanhoe’s tax rate is 30
percent.
Compute Ivanhoe’s 2020 diluted earnings per share.
(Round answer to 2 decimal places, e.g.
3.55.)
Diluted earnings per
share
$
Martinez Corporation earned net income of $520,350 in 2020 and had 115,000 shares of common stock...
Martinez Corporation earned net income of $520,350 in 2020 and
had 115,000 shares of common stock outstanding throughout the year.
Also outstanding all year was $750,000 of 9% bonds, which are
convertible into 17,000 shares of common. Martinez’s tax rate is 30
percent.
Compute Martinez’s 2020 diluted earnings per share.
(Round answer to 2 decimal places, e.g.
3.55.)
Diluted earnings per share
$enter diluted earnings per share in dollars rounded to 2
decimal places
Sage Corporation reported net income of $231,840 in 2020 and had 186,000 shares of common stock outstanding throughout the year. Also outstanding all year were 58,500 options to purchase common stock at $11 per share. The average market price of the stock during the year was $15. Compute diluted earnings per share. (Round answer to 2 decimal places, e.g. 3.55.) Diluted earnings per share $ Pearl Corporation reported net income of $213,860 in 2020 and had 53,900 shares of common...
X Your answer is incorrect. Flint Corporation reported net income of $221,650 in 2020 and had 182,000 shares of common stock outstanding throughout the year. Also outstanding all year were 58,500 options to purchase common stock at $10 per share. The average market price of the stock during the year was $15. Compute diluted earnings per share. (Round answer to 2 decimal places, eg. 3.55.) Diluted earnings per share 1.13
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
$
Brief Exercise 16-14 Nash Corporation reported net income of $213,860 in 2017 and had 53,00 shares of common stock outstanding throughout the year. Als outstanding year were 4500 shares of cumulative preferred stock, each convertible into 2 shares of common. The preferred stock pays an annual dividend of $5 per share Na's tax rate is 50% Compute Nash's 2017 diluted earnings per share. (Round answer to 2 decimal places.. 3.55.) Diluted earnings per shares Click if you would like to...
Brief Exercise 16-13 Waterway Corporation camed net income of $370,000 in 2017 and had 104,000 shares of common stock outstanding throughout the year. Also outstanding 9% bonds, which are convertible into 19,000 shares of common. Waterway's tax rate is 30 percent. year was 10,000 of Compute Waterway's 2017 diluted earnings per share. (Round answer to 2 decimal places, e.. 3.55.) Diluted earnings per share Click if you would like to show Work for this question Open Show Work
Ivanhoe Corporation earned net income of $275,800 in 2020 and
had 116,000 shares of common stock outstanding throughout the year.
Also outstanding all year was $900,000 of 9% bonds, which are
convertible into 17,000 shares of common. Ivanhoe’s tax rate is 30
percent.
Compute Ivanhoe’s 2020 diluted earnings per share.
(Round answer to 2 decimal places, e.g.
3.55.)
Diluted earnings per
share
$
Martinez Corporation earned net income of $520,350 in 2020 and
had 115,000 shares of common stock outstanding throughout the year.
Also outstanding all year was $750,000 of 9% bonds, which are
convertible into 17,000 shares of common. Martinez’s tax rate is 30
percent.
Compute Martinez’s 2020 diluted earnings per share.
(Round answer to 2 decimal places, e.g.
3.55.)
Diluted earnings per share
$enter diluted earnings per share in dollars rounded to 2
decimal places
Most questions answered within 3 hours.
-
what process occurs to form microspores and megaspores in flowering
plants?
asked 2 minutes ago -
C++
I need to use the function getData to put in all my data using
arrays....
asked 1 minute ago -
A block is hung by a string from the inside roof of a van. When
the...
asked 8 minutes ago -
Do you think companies should not go for long term debt in their
capital structure to...
asked 17 minutes ago -
I create an address book where the user enters the name, phone
and email in the...
asked 23 minutes ago -
The production capacity for acrylonitrile
(C3H3N) in the United States exceeds 2
million pounds per year....
asked 30 minutes ago -
explain and comment out your answer
43. How many address lines are required to address a...
asked 37 minutes ago -
A sample of 45 observations is selected from a normal
population. The sample mean is 49,...
asked 51 minutes ago -
A construction company is planning to bid on a building
contract. The bid costs the company...
asked 49 minutes ago -
A firm operating in a purely competitive environment is faced
with a market price of $250....
asked 55 minutes ago -
•Let’s say someone claims the average population size is
600 feet squared and the housing authority...
asked 1 hour ago -
Cynaide is a deadly poison that blocks the last step in the
electron transport chain of...
asked 1 hour ago