Question

Thrifty Co. reported net income of $767,000 for its fiscal year ended January 31, 2020. At...

Thrifty Co. reported net income of $767,000 for its fiscal year ended January 31, 2020. At the beginning of that fiscal year, 173,000 shares of common stock were outstanding. On October 31, 2019, an additional 49,000 shares were issued. No other changes in common shares outstanding occurred during the year. Also during the year, the company paid the annual dividend on the 28,000 shares of 6%, $55 par value preferred stock that were outstanding the entire year.

Required:
a. Calculate basic earnings per share of common stock for the year ended January 31, 2020. (Round your answer to 2 decimal places.)

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Ringmeup Inc. had net income of $101,800 for the year ended December 31, 2019. At the...
Ringmeup Inc. had net income of $101,800 for the year ended December 31, 2019. At the beginning of the year, 44,000 shares of common stock were outstanding. On May 1, an additional 11,000 shares were issued. On December 1, the company purchased 4,100 shares of its own common stock and held them as treasury stock until the end of the year. No other changes in common shares outstanding occurred during the year. During the year, Ringmeup paid the annual dividend...
Ringmeup Inc. had net income of $123,100 for the year ended December 31, 2019. At the...
Ringmeup Inc. had net income of $123,100 for the year ended December 31, 2019. At the beginning of the year, 43,000 shares of common stock were outstanding. On May 1, an additional 18,000 shares were issued. On December 1, the company purchased 4,200 shares of its own common stock and held them as treasury stock until the end of the year. No other changes in common shares outstanding occurred during the year. During the year, Ringmeup paid the annual dividend...
Ringmeup Inc. had net income of $162,200 for the year ended December 31, 2019. At the...
Ringmeup Inc. had net income of $162,200 for the year ended December 31, 2019. At the beginning of the year, 38,000 shares of common stock were outstanding. On May 1, an additional 17,000 shares were issued. On December 1, the company purchased 4,300 shares of its own common stock and held them as treasury stock until the end of the year. No other changes in common shares outstanding occurred during the year. During the year, Ringmeup paid the annual dividend...
Ringmeup Inc. had net income of $134,800 for the year ended December 31, 2019. At the...
Ringmeup Inc. had net income of $134,800 for the year ended December 31, 2019. At the beginning of the year, 40,000 shares of common stock were outstanding. On May 1, an additional 14,000 shares were issued. On December 1, the company purchased 4,800 shares of its own common stock and held them as treasury stock until the end of the year. No other changes in common shares outstanding occurred during the year. During the year, Ringmeup paid the annual dividend...
Ringmeup Inc. had net income of $142,100 for the year ended December 31, 2019. At the...
Ringmeup Inc. had net income of $142,100 for the year ended December 31, 2019. At the beginning of the year, 36,000 shares of common stock were outstanding. On May 1, an additional 17,000 shares were issued. On December 1, the company purchased 4,900 shares of its own common stock and held them as treasury stock until the end of the year. No other changes in common shares outstanding occurred during the year. During the year, Ringmeup paid the annual dividend...
Ringmeup, Inc., had net income of $176,900 for the year ended December 31, 2016. At the...
Ringmeup, Inc., had net income of $176,900 for the year ended December 31, 2016. At the beginning of the year, 39,000 shares of common stock were outstanding. On May 1, an additional 16,000 shares were issued. On December 1, the company purchased 4,500 shares of its own common stock and held them as treasury stock until the end of the year. No other changes in common shares outstanding occurred during the year. During the year, Ringmeup, Inc., paid the annual...
Ringmeup Inc. had net income of $196,600 for the year ended December 31, 2019. At the...
Ringmeup Inc. had net income of $196,600 for the year ended December 31, 2019. At the beginning of the year, 41,000 shares of common stock were outstanding. On May 1, an additional 17,000 shares were issued. On December 1, the company purchased 4,800 shares of its own common stock and held them as treasury stock until the end of the year. No other changes in common shares outstanding occurred during the year. During the year, Ringmeup paid the annual dividend...
For the fiscal year ended December 31, 2019, a company reported Net Income of $7,000,000. The...
For the fiscal year ended December 31, 2019, a company reported Net Income of $7,000,000. The Dillie company had 3,000,000 shares of $1 par value common stock outstanding all year. In addition, the company had $500,000 par value of 10% cumulative, non-convertible preferred stock outstanding all year. In December 2019, the company declared and paid a preferred dividend of $50,000, as well as a $0.10 per share dividend to common shareholders. Furthermore, on January 1, 2019 the company issued at...
For the year ended December 31, 2018, Norstar Industries reported net income of $655,000. At January...
For the year ended December 31, 2018, Norstar Industries reported net income of $655,000. At January 1, 2018, the company had 900,000 common shares outstanding. The following changes in the number of shares occurred during 2018:    Apr. 30 Sold 60,000 shares in a public offering. May 24 Declared and distributed a 5% stock dividend. June 1 Issued 72,000 shares as part of the consideration for the purchase of assets from a subsidiary. Required: Compute Norstar's earnings per share for...
For the year ended on 12/31/2019, ABC Products has a net income of $4,847,000. The company...
For the year ended on 12/31/2019, ABC Products has a net income of $4,847,000. The company declared and paid $169,000 of dividends on preferred stock. The company also had the following common share information. What is the company's Basic EPS of 2019? Common shares outstanding on 1/1/2019 1,000,00 Common shares issuance on 7/1/2019 640,000 Common shares repurchase on 10/1/2019 (602,000) Common shares outstanding on 12/31/2019 1,038,000
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT