Question
Hardaway Fixtures' balance sheet at December 31, 2017, included the following: Shares issued and outstanding: Common...
Hardaway Fixtures'
balance sheet at December 31, 2017, included the
following:
| Shares issued and outstanding: | |||
| Common stock, $1 par | $ | 960,000 | |
| Nonconvertible preferred stock, $50 par | 20,000 | ||
On July 21, 2018, Hardaway issued a 25% stock dividend on its
common stock. On December 12 it paid $45,000 cash dividends on the
preferred stock. Net income for the year ended December 31, 2018,
was $3,600,000.
Required:
Compute Hardaway's earnings per share for the year ended December 31, 2018. (Enter your answers in thousands.)
| Numerator | / | Denominator | = | Earnings per Share |
| / | = |
Homework Answers
Answer #1
Note
Bonus shares shall not be weighted average as bonus stock will not impact earning potentiality. It should be taken as from beginning of period
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