Question

On January 1, 2020, Wildhorse Ltd. had 648,000 common shares outstanding. During 2020, it had the following transactions that affected the common share account:

Feb. 1		Issued 181,000 shares.
Mar. 1		Issued a 18% stock dividend.
May 1		Acquired 210,000 common shares and retired them.
June 1		Issued a 3-for-1 stock split.
Oct. 1		Issued 76,000 shares.

The company’s year end is December 31.

Determine the weighted average number of shares outstanding as at December 31, 2020. (Round answer to 0 decimal places, e.g. 5,275.)

Weighted average number of shares outstanding

enter the Weighted average number of shares outstanding rounded to 0 decimal places shares

  

  

Question Part Score

--/4.66

Assume that Wildhorse earned net income of $3,409,000 during 2020. In addition, it had 120,000 of 9%, $100 par, non-convertible, non–cumulative preferred shares outstanding for the entire year. Because of liquidity limitations, however, the company did not declare and pay a preferred dividend in 2020.

Calculate earnings per share for 2020, using the weighted average number of shares determined above. (Round answer to 2 decimal places, e.g. 15.25.)

Earnings per share

$enter Earnings per share in dollars rounded to 2 decimal places

  

  

Question Part Score

--/4.67

Assume that Wildhorse earned net income of $3,409,000 during 2020. In addition, it had 120,000 of 9%, $100 par, non-convertible, cumulative preferred shares outstanding for the entire year. Because of liquidity limitations, however, the company did not declare and pay a preferred dividend in 2020.

Calculate earnings per share for 2020, using the weighted average number of shares determined above. (Round answer to 2 decimal places, e.g. 15.25.)

Earnings per share

$enter Earnings per share in dollars rounded to 2 decimal places

Answer 1

Answer