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Presented below is information related to Sandhill Company. $318,500 $610,000 $1,000,000 1. Net Income [including a...
Presented below is information related to Starr Company. 1. Net Income [including a discontinued operations gain...
Presented below is information related to Starr Company. 1. Net Income [including a discontinued operations gain (net of tax) of $69,000] $229,500 2. Capital Structure a. Cumulative 5% preferred stock, $100 par, 6,300 shares issued and outstanding $630,000 b. $10 par common stock, 74,000 shares outstanding on January 1. On April 1, 40,000 shares were issued for cash. On October 1, 16,000 shares were purchased and retired. $1,000,000 c. On January 2 of the current year, Starr purchased Oslo Corporation....
Testbank Problem 145 Sandhill Corp. had $750,000 net income in 2021. On January 1, 2021 there...
Testbank Problem 145 Sandhill Corp. had $750,000 net income in 2021. On January 1, 2021 there were 200,000 shares of common stock outstanding. On April 1, 23,200 shares were issued and on September 1, Sandhill bought 29,400 shares of treasury stock. There are 28,000 options to buy common stock at $40 a share outstanding. The market price of the common stock averaged $50 during 2021. The tax rate is 40%. During 2021, there were 41,000 shares of convertible preferred stock...
On January 1, 2021, Sandhill Corp. had 480,000 shares of common stock outstanding. During 2021, it...
On January 1, 2021, Sandhill Corp. had 480,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account. February 1 March 1 May 1 June 1 October 1 Issued 117.000 shares Issued a 10% stock dividend Acquired 101,000 shares of treasury stock Issued a 3-for-1 stock split Reissued 62,000 shares of treasury stock Determine the weighted-average number of shares outstanding as of December 31, 2021. The weighted average number of shares outstanding...
Presented below is information related to the Andrews Company for 2018. Use this information to compute...
Presented below is information related to the Andrews Company for 2018. Use this information to compute basic and diluted EPS for 2018 Net Income was $780,000 Tax rate was 30% Average market price of common stock was S30 Capital Structure: * Cumulative 10% preferred stock, $100 par, 500 shares issued and outstanding. Preferred stock can be converted into common stock at a ratio of 4 shares of common for one share of preferred. .$10 par common stock, 66,000 shares outstanding...
On January 1, 2021, Sandhill Corporation had 1,040,000 shares of common stock outstanding. On March 1,...
On January 1, 2021, Sandhill Corporation had 1,040,000 shares of common stock outstanding. On March 1, the corporation issued 150,000 new shares to raise additional capital. On July 1, the corporation declared and issued a 2-for-1 stock split. On October 1, the corporation purchased on the market 500,000 of its own outstanding shares and retired them. Compute the weighted average number of shares to be used in computing earnings per share for 2021. Weighted average number of shares
The information below pertains to Pearl Company for 2021. Net income for the year $1,250,000 7%...
The information below pertains to Pearl Company for 2021. Net income for the year $1,250,000 7% convertible bonds issued at par ($1,000 per bond); each bond is convertible into 30 shares of common stock 2,080,000 6% convertible, cumulative preferred stock, $100 par value; each share is convertible into 3 shares of common stock 3,860,000 Common stock, $10 par value 5,710,000 Tax rate for 2021 20% Average market price of common stock $25 per share There were no changes during 2021...
3. Dulcinea Corporation had $750,000 of net income in 2019. On January 1, 2019, there were...
3. Dulcinea Corporation had $750,000 of net income in 2019. On January 1, 2019, there were 200,000 shares of common stock outstanding. On April 1, 16,000 shares were issued. On July 1, Dulcinea issued a 10% stock dividend and on September 1. Dulcinea bought 20,000 shares of treasury stock. The market price of the common stock averaged $40 during 2019. The tax rate is 40%. During 2019, there were 10.000 shares of cumulative, convertible preferred stock outstanding. The preferred is...
The information below pertains to Windsor Company for 2021. Net income for the year $1,190,000 7%...
The information below pertains to Windsor Company for 2021. Net income for the year $1,190,000 7% convertible bonds issued at par ($1,000 per bond); each bond is convertible into 30 shares of common stock 1,970,000 6% convertible, cumulative preferred stock, $100 par value; each share is convertible into 3 shares of common stock 4,000,000 Common stock, $10 par value 6,280,000 Tax rate for 2021 20% Average market price of common stock $25 per share There were no changes during...
The information below pertains to Sarasota Company for 2021. Net income for the year $1,220,000 7%...
The information below pertains to Sarasota Company for
2021.
Net income for the year
$1,220,000
7% convertible bonds issued
at par ($1,000 per bond); each bond is convertible into
30 shares of common stock
1,990,000
6% convertible, cumulative
preferred stock, $100 par value; each share is convertible
into 3 shares of common stock
3,990,000
Common stock, $10 par
value
6,140,000
Tax rate for 2021
20%
Average market price of
common stock
$25 per share
There were no changes during...
The information below pertains to Flint Company for 2018. $1,180,000 1,910,000 Net income for the year...
The information below pertains to Flint Company for 2018. $1,180,000 1,910,000 Net income for the year 7% convertible bonds issued at par ($1,000 per bond); each bond is convertible into 30 shares of common stock 6% convertible, cumulative preferred stock, $100 par value; each share is convertible into 3 shares of common stock Common stock, $10 par value Tax rate for 2018 Average market price of common stock 3,820,000 5,850,000 40% $25 per share There were no changes during 2018...
On January 1, 2021, Sandhill Corp. had 480,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account. February 1 March 1 May 1 June 1 October 1 Issued 117.000 shares Issued a 10% stock dividend Acquired 101,000 shares of treasury stock Issued a 3-for-1 stock split Reissued 62,000 shares of treasury stock Determine the weighted-average number of shares outstanding as of December 31, 2021. The weighted average number of shares outstanding...
Presented below is information related to the Andrews Company for 2018. Use this information to compute basic and diluted EPS for 2018 Net Income was $780,000 Tax rate was 30% Average market price of common stock was S30 Capital Structure: * Cumulative 10% preferred stock, $100 par, 500 shares issued and outstanding. Preferred stock can be converted into common stock at a ratio of 4 shares of common for one share of preferred. .$10 par common stock, 66,000 shares outstanding...
On January 1, 2021, Sandhill Corporation had 1,040,000 shares of common stock outstanding. On March 1, the corporation issued 150,000 new shares to raise additional capital. On July 1, the corporation declared and issued a 2-for-1 stock split. On October 1, the corporation purchased on the market 500,000 of its own outstanding shares and retired them. Compute the weighted average number of shares to be used in computing earnings per share for 2021. Weighted average number of shares
3. Dulcinea Corporation had $750,000 of net income in 2019. On January 1, 2019, there were 200,000 shares of common stock outstanding. On April 1, 16,000 shares were issued. On July 1, Dulcinea issued a 10% stock dividend and on September 1. Dulcinea bought 20,000 shares of treasury stock. The market price of the common stock averaged $40 during 2019. The tax rate is 40%. During 2019, there were 10.000 shares of cumulative, convertible preferred stock outstanding. The preferred is...
The information below pertains to Sarasota Company for
2021.
Net income for the year
$1,220,000
7% convertible bonds issued
at par ($1,000 per bond); each bond is convertible into
30 shares of common stock
1,990,000
6% convertible, cumulative
preferred stock, $100 par value; each share is convertible
into 3 shares of common stock
3,990,000
Common stock, $10 par
value
6,140,000
Tax rate for 2021
20%
Average market price of
common stock
$25 per share
There were no changes during...
The information below pertains to Flint Company for 2018. $1,180,000 1,910,000 Net income for the year 7% convertible bonds issued at par ($1,000 per bond); each bond is convertible into 30 shares of common stock 6% convertible, cumulative preferred stock, $100 par value; each share is convertible into 3 shares of common stock Common stock, $10 par value Tax rate for 2018 Average market price of common stock 3,820,000 5,850,000 40% $25 per share There were no changes during 2018...
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