Question

On January 1, 2021, Indigo Corp. had 484,000 shares of common stock outstanding. During 2021, it...

On January 1, 2021, Indigo Corp. had 484,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account.

February 1 Issued 116,000 shares
March 1 Issued a 10% stock dividend
May 1 Acquired 99,000 shares of treasury stock
June 1 Issued a 3-for-1 stock split
October 1 Reissued 61,000 shares of treasury stock

Determine the weighted-average number of shares outstanding as of December 31, 2021.

The weighted-average number of shares outstanding

enter the weighted-average number of shares outstanding as of December 31, 2018

eTextbook and Media

  

  

Assume that Indigo Corp. earned net income of $3,296,000 during 2021. In addition, it had 105,000 shares of 9%, $100 par nonconvertible, noncumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the company did not declare and pay a preferred dividend in 2021. Compute earnings per share for 2021, using the weighted-average number of shares determined in part (a). (Round answer to 2 decimal places, e.g. $2.55.)

Earnings Per Share

$enter earnings per share rounded to 2 decimal places

eTextbook and Media

  

  

Assume the same facts as in part (b), except that the preferred stock was cumulative. Compute earnings per share for 2021. (Round answer to 2 decimal places, e.g. $2.55.)

Earnings Per Share

$enter earnings per share rounded to 2 decimal places

eTextbook and Media

  

  

Assume the same facts as in part (b), except that net income included a loss from discontinued operations of $413,000 (net of tax). Compute earnings per share for 2021. (Round answer to 2 decimal places, e.g. $2.55.)

Indigo Corp.
Income Statement

choose the accounting period                                                                      December 31, 2021For the Year Ended December 31, 2021For the Quarter Ended December 31, 2021

select an opening name for this statement                                                                      DividendsExpensesExtraordinary LossExtraordinary GainIncome Before Extraordinary ItemIncome From Continuing OperationsIncome Per Share Before Extraordinary ItemLoss From Discontinued OperationsNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues

$enter a dollar amount per share rounded to 2 decimal places

select an income statement item                                                                      DividendsExpensesExtraordinary LossExtraordinary GainIncome Before Extraordinary ItemIncome From Continuing OperationsIncome Per Share Before Extraordinary ItemLoss From Discontinued OperationsNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues

enter a dollar amount per share rounded to 2 decimal places

select a closing name for this statement                                                                      DividendsExpensesExtraordinary LossExtraordinary GainIncome Before Extraordinary ItemIncome From Continuing OperationsIncome Per Share Before Extraordinary ItemLoss From Discontinued OperationsNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues

enter a total earnings per share amount rounded to 2 decimal places

  

  

Save for Later

  

Homework Answers

Answer #1

Hi

Let me know in case you face any issue:

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
On January 1, 2020, Blossom Industries had stock outstanding as follows. 6% Cumulative preferred stock, $100...
On January 1, 2020, Blossom Industries had stock outstanding as follows. 6% Cumulative preferred stock, $100 par value, issued and outstanding 9,700 shares $970,000 Common stock, $10 par value, issued and outstanding 203,000 shares 2,030,000 To acquire the net assets of three smaller companies, Blossom authorized the issuance of an additional 163,200 common shares. The acquisitions took place as shown below. Date of Acquisition Shares Issued Company A April 1, 2020 49,200 Company B July 1, 2020 82,800 Company C...
On January 1, 2018, Sweet Corp. had 461,000 shares of common stock outstanding. During 2018, it...
On January 1, 2018, Sweet Corp. had 461,000 shares of common stock outstanding. During 2018, it had the following transactions that affected the Common Stock account. February 1 Issued 124,000 shares March 1 Issued a 10% stock dividend May 1 Acquired 104,000 shares of treasury stock June 1 Issued a 3-for-1 stock split October 1 Reissued 61,000 shares of treasury stock Determine the weighted-average number of shares outstanding as of December 31, 2018. The weighted-average number of shares outstanding Assume...
On January 1, 2018, Shamrock Corp. had 478,000 shares of common stock outstanding. During 2018, it...
On January 1, 2018, Shamrock Corp. had 478,000 shares of common stock outstanding. During 2018, it had the following transactions that affected the Common Stock account. February 1 Issued 120,000 shares March 1 Issued a 10% stock dividend May 1 Acquired 102,000 shares of treasury stock June 1 Issued a 3-for-1 stock split October 1 Reissued 59,000 shares of treasury stock Determine the weighted-average number of shares outstanding as of December 31, 2018. The weighted-average number of shares outstanding LINK...
xercise 16-16 On January 1, 2018, Culver Corp. had 474,000 shares of common stock outstanding. During...
xercise 16-16 On January 1, 2018, Culver Corp. had 474,000 shares of common stock outstanding. During 2018, it had the following transactions that affected the Common Stock account. February 1 Issued 126,000 shares March 1 Issued a 10% stock dividend May 1 Acquired 100,000 shares of treasury stock June 1 Issued a 3-for-1 stock split October 1 Reissued 62,000 shares of treasury stock Determine the weighted-average number of shares outstanding as of December 31, 2018. The weighted-average number of shares...
On January 1, 2021, Grouper Corp. had 472,000 shares of common stock outstanding. During 2021, it...
On January 1, 2021, Grouper Corp. had 472,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account. February 1 Issued 125,000 shares March 1 Issued a 10% stock dividend May 1 Acquired 100,000 shares of treasury stock June 1 Issued a 3-for-1 stock split October 1 Reissued 63,000 shares of treasury stock (a) Determine the weighted-average number of shares outstanding as of December 31, 2021. The weighted-average number of shares outstanding
On January 1, 2021, Algerian Delivery had 100,000 shares of common stock outstanding. The following transactions...
On January 1, 2021, Algerian Delivery had 100,000 shares of common stock outstanding. The following transactions occurred during 2021: March 1: Reacquired 2,500 shares, accounted for as treasury stock. September 30: Sold all the treasury shares. December 1: Sold 11,500 new shares for cash. December 31: Reported a net income of $292,750. Required: Calculate Algerian Delivery's basic earnings per share for the year ended December 31, 2021. (Round your answer to 2 decimal places.) EPS:
At January 1, 2021, Canaday Corporation had outstanding the following securities: 670 million common shares 20...
At January 1, 2021, Canaday Corporation had outstanding the following securities: 670 million common shares 20 million 5% cumulative preferred shares, $50 par 6.4% convertible bonds, $2,000 million face amount, convertible into 80 million common shares The following additional information is available: On September 1, 2021, Canaday sold 78 million additional shares of common stock. Incentive stock options to purchase 50 million shares of common stock after July 1, 2020, at $10 per share, were outstanding at the beginning and...
Paul Company had 100,000 shares of common stock outstanding on January 1, 2021. On September 30,...
Paul Company had 100,000 shares of common stock outstanding on January 1, 2021. On September 30, 2021, Paul sold 58,000 shares of common stock for cash. Paul also had 15,000 shares of convertible preferred stock outstanding throughout 2021. The preferred stock is $100 par, 7%, and is convertible into 3 shares of common for each share of preferred. Paul also had 600, 9%, convertible bonds outstanding throughout 2021. Each $1,000 bond is convertible into 30 shares of common stock. The...
1. Windsor Corporation had 318,000 shares of common stock outstanding on January 1, 2017. On May...
1. Windsor Corporation had 318,000 shares of common stock outstanding on January 1, 2017. On May 1, Windsor issued 31,500 shares. (a) Compute the weighted-average number of shares outstanding if the 31,500 shares were issued for cash. Weighted-average number of shares outstanding $ (b) Compute the weighted-average number of shares outstanding if the 31,500 shares were issued in a stock dividend. Weighted-average number of shares outstanding $ 2. Sarasota Corporation reported net income of $230,000 in 2017 and had 47,700...
Red cab Company had 50,000 shares of common stock outstanding on January 1, 2021. On April...
Red cab Company had 50,000 shares of common stock outstanding on January 1, 2021. On April 1, 2021, The company issued 20,000 shares of common stock. The company had outstanding fully vested stock options for 5,000 shares exercisable at $10 that had not been exercised by its executives. The end-of-year market price of common stock was $13 while the average price for the year was $12. They reported net income in the amount of $269,915 for 2021. what is the...