Kramer Inc. had 104 million shares of common stock, 1 million shares of 6%, $100 par,...
Kramer Inc. had 104 million shares of common stock, 1 million shares of 6%, $100 par, cumulative preferred stock, and 1 million shares of 8%, $100 par, noncumulative preferred stock outstanding at the end of 2017 and 2018. No dividends were declared or paid on common stock in either year. In 2018, a $3.9 million dividend was paid on the 6% preferred stock and a $4.9 million dividend was paid on the 8% preferred stock. Net income for 2018 was $309 million. The company's tax rate is 30%.
Required: Compute basic earnings per share for the year ended December 31, 2018. (Round your answer to 2 decimal places.)
Homework Answers
Computation of Basic Earning per share for the year ended December 31,2018:
| (in million) | |
| Net income | $309 |
| Divided paid for 6% preferred stock | ($3.90) |
| Divided paid for 8% preferred stock | ($4.90) |
| Earnings available for common stock holder | $300 |
| ÷ Outstanding common shares | 104 |
| = Basic earning per share | $2.89 |
Add Answer to:
Kramer Inc. had 104 million shares of common stock, 1 million shares of 6%, $100 par,...
Kramer Inc. had 86 million shares of common stock, 1 million shares of 5%, $100 par,...
Kramer Inc. had 86 million shares of common stock, 1 million shares of 5%, $100 par, cumulative preferred stock, and 1 million shares of 7%, $100 par, noncumulative preferred stock outstanding at the end of 2017 and 2018. No dividends were declared or paid on common stock in either year. In 2018, a $2.1 million dividend was paid on the 5% preferred stock and a $3.1 million dividend was paid on the 7% preferred stock. Net income for 2018 was...
On December 31, 2017, Berclair Inc. had 220 million shares of common stock and 4 million shares of 9%, $100 par value cu...
On December 31, 2017, Berclair Inc. had 220 million shares of
common stock and 4 million shares of 9%, $100 par value cumulative
preferred stock issued and outstanding. On March 1, 2018, Berclair
purchased 24 million shares of its common stock as treasury stock.
Berclair issued a 5% common stock dividend on July 1, 2018. Four
million treasury shares were sold on October 1. Net income for the
year ended December 31, 2018, was $110 million. The income tax rate...
At December 31, 2017 Pine Company had 200,000 shares of common stock and 10,000 shares of 6%, $100 par value cumulative...
At December 31, 2017 Pine Company had 200,000 shares of common stock and 10,000 shares of 6%, $100 par value cumulative preferred stock outstanding. No cash dividends were declared on either the preferred or common stock in 2017 or 2018. In 2018, Pine declared a 100% stock dividend on its common stock. Net income for 2018 was $1,960,000. In its 2018 financial statements, Pine's 2018 earnings per common share should be Select one: O a. $4.45. O O b. $2.25....
On December 31, 2017, Berclair Inc. had 540 million shares of common stock and 4 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2018, Berclair pur...
On December 31, 2017, Berclair Inc. had 540 million shares of common stock and 4 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2018, Berclair purchased 24 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2018. Four million treasury shares were sold on October 1. Net income for the year ended December 31, 2018, was $900 million. The income tax rate...
On December 31, 2017, Berclair Inc. had 600 million shares of common stock and 7 million shares of 9%, $100 par value cu...
On December 31, 2017, Berclair Inc. had 600 million shares of common stock and 7 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2018, Berclair purchased 184 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2018. Four million treasury shares were sold on October 1. Net income for the year ended December 31, 2018, was $1,150 million. Also outstanding at December...
Sheridan, Inc., has 9400 shares of 3%, $100 par value, noncumulative preferred stock and 37600 shares...
Sheridan, Inc., has 9400 shares of 3%, $100 par value, noncumulative preferred stock and 37600 shares of $1 par value common stock outstanding at December 31, 2018. There were no dividends declared in 2017. The board of directors declares and pays a $121500 dividend in 2018. What is the amount of dividends received by the common stockholders in 2018? $60750 $28200 $93300 $0 On January 1, Concord Corporation had 860000 shares of $10 par value common stock outstanding. On March...
On December 31, 2017, Berclair Inc. had 340 million shares of common stock and 6 million...
On December 31, 2017, Berclair Inc. had 340 million shares of common stock and 6 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2018, Berclair purchased 24 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2018. Four million treasury shares were sold on October 1. Net income for the year ended December 31, 2018, was $400 million. The income tax rate...
On December 31, 2017, Berclair Inc. had 250 million shares of common stock and 10 million shares of 9%, $100 par value...
On December 31, 2017, Berclair Inc. had 250 million shares of common stock and 10 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2018, Berclair purchased 90 million shares of its common stock as treasury stock. Berclair issued a 4% common stock dividend on July 1, 2018. Four million treasury shares were sold on October 1. Net income for the year ended December 31, 2018, was $500 million. Also outstanding at December...
On December 31, 2017, Berclair Inc. had 340 million shares of common stock and 6 million...
On December 31, 2017, Berclair Inc. had 340 million shares of common stock and 6 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2018, Berclair purchased 80 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2018. Four million treasury shares were sold on October 1. Net income for the year ended December 31, 2018, was $500 million. Also outstanding at December...
On December 31, 2017, Berclair Inc. had 360 million shares of common stock and 12 million shares of 9%, $100 par value c...
On December 31, 2017, Berclair Inc. had 360 million shares of common stock and 12 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2018, Berclair purchased 40 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2018. Four million treasury shares were sold on October 1. Net income for the year ended December 31, 2018, was $600 million. Also outstanding at December...
Kramer Inc. had 86 million shares of common stock, 1 million shares of 5%, $100 par, cumulative preferred stock, and 1 million shares of 7%, $100 par, noncumulative preferred stock outstanding at the end of 2017 and 2018. No dividends were declared or paid on common stock in either year. In 2018, a $2.1 million dividend was paid on the 5% preferred stock and a $3.1 million dividend was paid on the 7% preferred stock. Net income for 2018 was...
On December 31, 2017, Berclair Inc. had 220 million shares of
common stock and 4 million shares of 9%, $100 par value cumulative
preferred stock issued and outstanding. On March 1, 2018, Berclair
purchased 24 million shares of its common stock as treasury stock.
Berclair issued a 5% common stock dividend on July 1, 2018. Four
million treasury shares were sold on October 1. Net income for the
year ended December 31, 2018, was $110 million. The income tax rate...
At December 31, 2017 Pine Company had 200,000 shares of common stock and 10,000 shares of 6%, $100 par value cumulative preferred stock outstanding. No cash dividends were declared on either the preferred or common stock in 2017 or 2018. In 2018, Pine declared a 100% stock dividend on its common stock. Net income for 2018 was $1,960,000. In its 2018 financial statements, Pine's 2018 earnings per common share should be Select one: O a. $4.45. O O b. $2.25....
On December 31, 2017, Berclair Inc. had 540 million shares of common stock and 4 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2018, Berclair purchased 24 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2018. Four million treasury shares were sold on October 1. Net income for the year ended December 31, 2018, was $900 million. The income tax rate...
Sheridan, Inc., has 9400 shares of 3%, $100 par value, noncumulative preferred stock and 37600 shares of $1 par value common stock outstanding at December 31, 2018. There were no dividends declared in 2017. The board of directors declares and pays a $121500 dividend in 2018. What is the amount of dividends received by the common stockholders in 2018? $60750 $28200 $93300 $0 On January 1, Concord Corporation had 860000 shares of $10 par value common stock outstanding. On March...
On December 31, 2017, Berclair Inc. had 340 million shares of common stock and 6 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2018, Berclair purchased 24 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2018. Four million treasury shares were sold on October 1. Net income for the year ended December 31, 2018, was $400 million. The income tax rate...
On December 31, 2017, Berclair Inc. had 250 million shares of common stock and 10 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2018, Berclair purchased 90 million shares of its common stock as treasury stock. Berclair issued a 4% common stock dividend on July 1, 2018. Four million treasury shares were sold on October 1. Net income for the year ended December 31, 2018, was $500 million. Also outstanding at December...
Most questions answered within 3 hours.
-
In JAVA please (need answers in a few hours!)
Exercise #2: Design and implement a program...
asked 40 minutes ago -
The mass spectrum of an organic compound shows the relative
abundances of M to be 53.76%...
asked 1 hour ago -
Coca Cola’s strategy of “think local, act local” represents a
__________ approach.
Question options:
1)
transnational...
asked 1 hour ago -
which of the following is not a category of project management
risk?
a) external
b) internal...
asked 2 hours ago -
Focus on Critical Thinking: Are citizen suit provisions an
effective way to achieve environmental objectives? Do...
asked 3 hours ago -
Gaseous butane CH3CH22CH3 will react with gaseous oxygen O2 to
produce gaseous carbon dioxide CO2 and...
asked 3 hours ago -
Required to construct counters using synchronous sequential
logic. Use one hex digit to display the result....
asked 3 hours ago -
(Ultra) Large-Scale Systems –Characteristics?
explain in detail
How the nature of an enterprise affect complex...
asked 3 hours ago -
Some of the antibiotic susceptible strains show colonies within
the clear zone. What it does this...
asked 4 hours ago -
In the lottery game Fantasy 5 you have to select 5 numbers from
the numbers {1,2,3,.......,38,39}....
asked 4 hours ago -
A call option on Jupiter Motors stock with an exercise price of
$80 and one-year expiration...
asked 3 hours ago -
What is the disadvantage of an automated vulnerability scan tool
like Nessus?
prone to false negatives...
asked 4 hours ago