Consolidated Earnings Per Share
Bravo, Inc., owns all of the stock of Echo, Inc. For 2021, Bravo reports income (exclusive of any investment income) of $480,000. Bravo has 80,000 shares of common stock outstanding. It also has 5,000 shares of preferred stock outstanding that pay a dividend of $15,000 per year. Echo reports net income of $290,000 for the period with 80,000 shares of common stock outstanding. Echo also has a liability from its 10,000, $100 bonds that pay annual interest of $8 per bond. Each of these bonds can be converted into two shares of common stock. Bravo owns none of these bonds. Assume a tax rate of 21 percent.
What amount should Bravo report as diluted earnings per share? (Round your intermediate percentage value to the nearest whole number and the final answer to 2 decimal places.)
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Primus, Inc., owns all outstanding stock of Sonston, Inc. For the current year, Primus reports net...
Primus, Inc., owns all outstanding stock of Sonston, Inc. For the current year, Primus reports net income (exclusive of any investment income) of $480,000. Primus has 50,000 shares of common stock outstanding. Sonston reports net income of $80,000 for the period with 40,000 shares of common stock outstanding. Sonston also has 5,000 stock warrants outstanding that allow the holder to acquire shares at $13.50 per share. The value of this stock was $27 per share throughout the year. Primus owns...
Primus, Inc., owns all outstanding stock of Sonston, Inc. For the current year, Primus reports net...
Primus, Inc., owns all outstanding stock of Sonston, Inc. For the current year, Primus reports net income (exclusive of any investment income) of $520,000. Primus has 50,000 shares of common stock outstanding. Sonston reports net income of $120,000 for the period with 40,000 shares of common stock outstanding. Sonston also has 10,000 stock warrants outstanding that allow the holder to acquire shares at $15.00 per share. The value of this stock was $30 per share throughout the year. Primus owns...
Convertible Securities and Earnings per Share Percy Company has 15,000 shares of common stock outstanding during...
Convertible Securities and Earnings per Share Percy Company has 15,000 shares of common stock outstanding during all of 2016. It also has 2 convertible securities outstanding at the end of 2016. These are: 1. Convertible preferred stock: 1,000 shares of 9%, $100 par, preferred stock were issued in 2015 for $140 per share. Each share of preferred stock is convertible into 3.5 shares of common stock. The current dividends have been paid. To date, no preferred stock has been converted....
Clearly label the basic and diluted numerator / denominator = earnings per share similarly to the...
Clearly label the basic and diluted numerator / denominator =
earnings per share similarly to the format as the chart below.
On December 31, 2020, Berclair Inc. had 520 million shares of common stock and 3 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2021, Berclair purchased 24 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2021. Four million treasury shares...
Primus, Inc., owns all outstanding stock of Sonston, Inc. For the current year, Primus reports net income (exclusive of...
Primus, Inc., owns all outstanding stock of Sonston, Inc. For the current year, Primus reports net income (exclusive of any investment income) of $560,000. Primus has 100,000 shares of common stock outstanding. Sonston reports net income of $160,000 for the period with 40,000 shares of common stock outstanding. Sonston also has 10,000 stock warrants outstanding that allow the holder to acquire shares at $12.00 per share. The value of this stock was $24 per share throughout the year. Primus owns...
Primus, Inc., owns all outstanding stock of Sonston, Inc. For the current year, Primus reports net...
Primus, Inc., owns all outstanding stock of Sonston, Inc. For the current year, Primus reports net income (exclusive of any investment income) of $512,000. Primus has 50,000 shares of common stock outstanding. Sonston reports net income of $112,000 for the period with 40,000 shares of common stock outstanding. Sonston also has 5,000 stock warrants outstanding that allow the holder to acquire shares at $11.00 per share. The value of this stock was $22 per share throughout the year. Primus owns...
Primus, Inc., owns all outstanding stock of Sonston, Inc. For the current year, Primus reports net...
Primus, Inc., owns all outstanding stock of Sonston, Inc. For the current year, Primus reports net income (exclusive of any investment income) of $624,000. Primus has 50,000 shares of common stock outstanding. Sonston reports net income of $224,000 for the E period with 50,000 shares of common stock outstanding. Sonston also has 10,000 stock warrants outstanding that allow the holder to E acquire shares at $7.50 per share. The value of this stock was $15 per share throughout the year....
I need to calculate earnings per share and diluted earnings per share. Your employer just named...
I need to calculate earnings per share and diluted earnings per share. Your employer just named you hotshot accountant of the year and assigned you the task of calculating their earnings per share for the year ended 12/31/18. On 1/1/18 400,000 shares of common stock were outstanding. Net income for 2018 was $1,500,000 and their tax rate was 40%. The average market value for each share was $25. On April 1 they issued 97,000 shares of common. On June 1...
Accounting 327 – In-class activity, April 7, 2020 – Diluted Earnings Per Share Grassland Company had...
Accounting 327 – In-class activity, April 7, 2020 – Diluted Earnings Per Share Grassland Company had 200,000 shares of common stock outstanding on January 1, 2018. On September 30, 2018, Grassland sold 80,000 shares of common stock for cash. Grassland also had 40,000 shares of $10 par, 10%, noncumulative, convertible preferred stock outstanding throughout 2018. Each share is convertible into one share of common stock. Grassland also had $500,000 of 8% bonds outstanding throughout 2018. Each $1,000 bond is convertible...
EARNINGS PER SHARE EARNINGS PER SHARE WITH MULTIPLE POTENTIAL DILUTERS The following relate to Palmeto Corporation:...
EARNINGS PER SHARE EARNINGS PER SHARE WITH MULTIPLE POTENTIAL DILUTERS The following relate to Palmeto Corporation: Capital Stock: Common Stock, par $1, outstanding on 1/1/X1 90,000 shares Common Stock, issued 05/01/X1 6,000 shares Preferred Stock, par $20, percent (cumulative and nonconvertible) outstanding on 01/01/X1 2,500 shares Income data for year ending 12.31.X1: Income from Continuing Operations $134,000 Gain from Discontinued Operations (net of 40% tax) 10,000 Net Income 144.000 The following securities are outstanding for the entire year: 1. Stock...
Primus, Inc., owns all outstanding stock of Sonston, Inc. For the current year, Primus reports net income (exclusive of any investment income) of $520,000. Primus has 50,000 shares of common stock outstanding. Sonston reports net income of $120,000 for the period with 40,000 shares of common stock outstanding. Sonston also has 10,000 stock warrants outstanding that allow the holder to acquire shares at $15.00 per share. The value of this stock was $30 per share throughout the year. Primus owns...
Convertible Securities and Earnings per Share Percy Company has 15,000 shares of common stock outstanding during all of 2016. It also has 2 convertible securities outstanding at the end of 2016. These are: 1. Convertible preferred stock: 1,000 shares of 9%, $100 par, preferred stock were issued in 2015 for $140 per share. Each share of preferred stock is convertible into 3.5 shares of common stock. The current dividends have been paid. To date, no preferred stock has been converted....
Clearly label the basic and diluted numerator / denominator =
earnings per share similarly to the format as the chart below.
On December 31, 2020, Berclair Inc. had 520 million shares of common stock and 3 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2021, Berclair purchased 24 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2021. Four million treasury shares...
Primus, Inc., owns all outstanding stock of Sonston, Inc. For the current year, Primus reports net income (exclusive of any investment income) of $624,000. Primus has 50,000 shares of common stock outstanding. Sonston reports net income of $224,000 for the E period with 50,000 shares of common stock outstanding. Sonston also has 10,000 stock warrants outstanding that allow the holder to E acquire shares at $7.50 per share. The value of this stock was $15 per share throughout the year....
Accounting 327 – In-class activity, April 7, 2020 – Diluted Earnings Per Share Grassland Company had 200,000 shares of common stock outstanding on January 1, 2018. On September 30, 2018, Grassland sold 80,000 shares of common stock for cash. Grassland also had 40,000 shares of $10 par, 10%, noncumulative, convertible preferred stock outstanding throughout 2018. Each share is convertible into one share of common stock. Grassland also had $500,000 of 8% bonds outstanding throughout 2018. Each $1,000 bond is convertible...
EARNINGS PER SHARE EARNINGS PER SHARE WITH MULTIPLE POTENTIAL DILUTERS The following relate to Palmeto Corporation: Capital Stock: Common Stock, par $1, outstanding on 1/1/X1 90,000 shares Common Stock, issued 05/01/X1 6,000 shares Preferred Stock, par $20, percent (cumulative and nonconvertible) outstanding on 01/01/X1 2,500 shares Income data for year ending 12.31.X1: Income from Continuing Operations $134,000 Gain from Discontinued Operations (net of 40% tax) 10,000 Net Income 144.000 The following securities are outstanding for the entire year: 1. Stock...
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