In 2017, Linz Corporation reported a discontinued operations loss of $ 840,000, net of tax. It...
In 2017, Linz Corporation reported a discontinued operations loss of $ 840,000, net of tax. It declared and paid preferred stock dividends of $120,000 and common stock dividends of $360,000. During 2017, Linz had a weighted average of 500,000 common shares outstanding. As a result of the discontinued operations loss, net of tax, the earnings per share would decrease by
Homework Answers
As a result of the discontinued operations loss, net of tax, the earnings per share would decrease by:
= $840,000 / 500,000 shares
= $1.68
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In 2017, Linz Corporation reported a discontinued operations
loss of $ 840,000, net of tax. It...
Problem 5 - In 2019, Useh Corporation reported a discontinued operations loss of $900,000, net of...
Problem 5 - In 2019, Useh Corporation reported a discontinued operations loss of $900,000, net of tax. It declared and paid preferred stock dividends of $120,000 and common stock dividends of $360,000. During 2017, Useh Corp. had a weighted average of 200,000 common shares outstanding. As a result of the discontinued operations loss, net of tax, the earnings per share would decrease by Problem 6 - Discontinued Operations Using the following information (below) complete the Income Statement. Discontinued operations Pre-Tax...
Problem #7 - Earnings Per Share (10 points) In 2017, Esther Corporation reported net income of...
Problem #7 - Earnings Per Share (10 points) In 2017, Esther Corporation reported net income of $500,000. It declared and paid preferred stock dividends of $180,000 and common stock dividends of $60,000. During 2017, Esther had a weighted average of 250,000 common shares outstanding. Compute Esther's 2017 earnings per share. Earnings Per Share = B. Norling Corporation reports the following information: Net income $850,000 Dividends on common stock $210,000 Dividends on preferred stock $ 90,000 Weighted average common shares outstanding...
At December 31, 2017, Concord Corporation had the following shares outstanding: 8% cumulative preferred shares, 100,000...
At December 31, 2017, Concord Corporation had the following shares outstanding: 8% cumulative preferred shares, 100,000 shares outstanding $10,000,000 Common shares, 3,940,000 shares outstanding 19,700,000 During 2017, the corporation’s only share transaction was the issuance of 360,000 common shares on April 1. During 2017, the following also occurred: Income from continuing operations before tax $22,760,000 Discontinued operations (loss before tax) 3,032,000 Preferred dividends declared 800,000 Common dividends declared 2,270,000 Effective tax rate 31% Calculate earnings per share information as it...
Problem 19-8 Net loss; stock dividend; nonconvertible preferred stock; treasury shares shares sold; discontinued operations [LO19-5,...
Problem 19-8 Net loss; stock dividend; nonconvertible preferred stock; treasury shares shares sold; discontinued operations [LO19-5, 19-6, 19-7, 19-13] On December 31, 2017, Ainsworth, Inc.,.had 600 million shares of common stock outstanding. Twenty two million shares of 8%, $100 par value cumulative, nonconvertible preferred stock were sold on January 2, 2018, On April 30, 2018, Ainsworth purchased 50 million shares of its common stock as treasury stock. Twenty million treasury shares were sold on August 31, Ainsworth issued a 4%...
At December 31, 2016, Ivanhoe Corporation had the following stock outstanding. 10% cumulative preferred stock, $100...
At December 31, 2016, Ivanhoe Corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 107,760 shares $10,776,000 Common stock, $5 par, 4,025,000 shares 20,125,000 During 2017, Ivanhoe did not issue any additional common stock. The following also occurred during 2017. Income from continuing operations before taxes $21,900,000 Discontinued operations (loss before taxes) $3,345,000 Preferred dividends declared $1,077,600 Common dividends declared $2,400,000 Effective tax rate 35 % Compute earnings per share data as it should appear in the...
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. (
At December 31, 2019, Oriole Corporation had the following stock outstanding. 10% cumulative preferred stock. $...
At December 31, 2019, Oriole Corporation had the following stock outstanding. 10% cumulative preferred stock. $ 100 par, 109,261 shares $10,926,100 Common stock. $5 par, 4.099.840 shares 20,499,200 During 2020, Oriole did not issue any additional common stock. The following also occurred during 2020. Income from continuing operations before taxes $24.649,800 Discontinued operations (loss before taxes) $3,399,100 Preferred dividends declared $1,092,610 Common dividends declared $2,322,900 Effective tax rate 35% Compute earnings per share data as it should appear in the...
At December 31, 2019, Blue Corporation had the following stock outstanding. 10% cumulative preferred stock, $100...
At December 31, 2019, Blue Corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 108,054 shares $10,805,400 Common stock, $5 par, 4,058,240 shares 20,291,200 During 2020. Blue did not issue any additional common stock. The following also occurred during 2020. Income from continuing operations before taxes $22,544,700 Discontinued operations (loss before taxes) $3,341,700 Preferred dividends declared $1,080,540 Common dividends declared $2,036,500 Effective tax rate 35% Compute earnings per share data as it should appear in the 2020...
At December 31, 2016, Grouper Corporation had the following stock outstanding. 10% cumulative preferred stock, $100...
At December 31, 2016, Grouper Corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 109,101 shares $10,910,100 Common stock, $5 par, 4,021,360 shares 20,106,800 During 2017, Grouper did not issue any additional common stock. The following also occurred during 2017 Income from continuing operations before taxes Discontinued operations (loss before taxes) Preferred dividends declared Common dividends declared Effective tax rate $23,507,100 $3,330,000 $1,091,010 $2,082,400 35 % Compute earnings per share data as it should appear in the...
The stockholders' equity section of Hendly Corporation appears below as of December 31, 2017. 7% preferred...
The stockholders' equity section of Hendly Corporation appears below as of December 31, 2017. 7% preferred stock, $50 par value, authorized 100,000 shares, outstanding 90,000 shares $4,500,000 Common Stock, $1.00 par, authorized and issued 10 million shares $10,000,000 Additional Paid-in Capital $20,500,000 Retained Earnings $167,000,000 Net income for 2017 reflects a total effective tax rate of 34%. Included in Net Income of $33,000,000 is a loss of $18,000,000 (before tax) as a result of a non-recurring major casualty. Preferred stock...
Problem 5 - In 2019, Useh Corporation reported a discontinued operations loss of $900,000, net of tax. It declared and paid preferred stock dividends of $120,000 and common stock dividends of $360,000. During 2017, Useh Corp. had a weighted average of 200,000 common shares outstanding. As a result of the discontinued operations loss, net of tax, the earnings per share would decrease by Problem 6 - Discontinued Operations Using the following information (below) complete the Income Statement. Discontinued operations Pre-Tax...
Problem #7 - Earnings Per Share (10 points) In 2017, Esther Corporation reported net income of $500,000. It declared and paid preferred stock dividends of $180,000 and common stock dividends of $60,000. During 2017, Esther had a weighted average of 250,000 common shares outstanding. Compute Esther's 2017 earnings per share. Earnings Per Share = B. Norling Corporation reports the following information: Net income $850,000 Dividends on common stock $210,000 Dividends on preferred stock $ 90,000 Weighted average common shares outstanding...
Problem 19-8 Net loss; stock dividend; nonconvertible preferred stock; treasury shares shares sold; discontinued operations [LO19-5, 19-6, 19-7, 19-13] On December 31, 2017, Ainsworth, Inc.,.had 600 million shares of common stock outstanding. Twenty two million shares of 8%, $100 par value cumulative, nonconvertible preferred stock were sold on January 2, 2018, On April 30, 2018, Ainsworth purchased 50 million shares of its common stock as treasury stock. Twenty million treasury shares were sold on August 31, Ainsworth issued a 4%...
At December 31, 2019, Oriole Corporation had the following stock outstanding. 10% cumulative preferred stock. $ 100 par, 109,261 shares $10,926,100 Common stock. $5 par, 4.099.840 shares 20,499,200 During 2020, Oriole did not issue any additional common stock. The following also occurred during 2020. Income from continuing operations before taxes $24.649,800 Discontinued operations (loss before taxes) $3,399,100 Preferred dividends declared $1,092,610 Common dividends declared $2,322,900 Effective tax rate 35% Compute earnings per share data as it should appear in the...
At December 31, 2019, Blue Corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 108,054 shares $10,805,400 Common stock, $5 par, 4,058,240 shares 20,291,200 During 2020. Blue did not issue any additional common stock. The following also occurred during 2020. Income from continuing operations before taxes $22,544,700 Discontinued operations (loss before taxes) $3,341,700 Preferred dividends declared $1,080,540 Common dividends declared $2,036,500 Effective tax rate 35% Compute earnings per share data as it should appear in the 2020...
At December 31, 2016, Grouper Corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 109,101 shares $10,910,100 Common stock, $5 par, 4,021,360 shares 20,106,800 During 2017, Grouper did not issue any additional common stock. The following also occurred during 2017 Income from continuing operations before taxes Discontinued operations (loss before taxes) Preferred dividends declared Common dividends declared Effective tax rate $23,507,100 $3,330,000 $1,091,010 $2,082,400 35 % Compute earnings per share data as it should appear in the...
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