Wildhorse Corporation reported net income of $386,100 in 2017
and had 217,000 shares of common stock...
Wildhorse Corporation reported net income of $386,100 in 2017
and had 217,000 shares of common stock outstanding throughout the
year. Also outstanding all year were 51,000 options to purchase
common stock at $10 per share. The average market price of the
stock during the year was $15.
Compute diluted earnings per share. (Round answer to 2
decimal places, e.g. 3.55.)
Diluted earnings per share
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...
In 2020, Panther Corporation reported net income of $700,000. It
declared and paid preferred stock dividends...
In 2020, Panther Corporation reported net income of $700,000. It
declared and paid preferred stock dividends of $140,000 and common
stock dividends of $50,000. During 2020, Panther had a weighted
average of 200,000 common shares outstanding. Compute Panther's
2020 earnings per share. Select one: a. $3.25 b. $2.80 c. $3.50 d.
$2.55
Cullumber Corporation had 2017 net income of $1.7 million.
During 2017, Cullumber paid a dividend of...
Cullumber Corporation had 2017 net income of $1.7 million.
During 2017, Cullumber paid a dividend of $4 per share on 82,000
preferred shares. Cullumber also had 240,000 common shares
outstanding during the year. Calculate Cullumber’s 2017 earnings
per share.
At December 31, 2017 and 2018, Funk & Noble Corporation had
outstanding 1,200 million shares of...
At December 31, 2017 and 2018, Funk & Noble Corporation had
outstanding 1,200 million shares of common stock and 18 million
shares of 6%, $100 par value cumulative preferred stock. No
dividends were declared on either the preferred or common stock in
2017 or 2018. Net income for 2018 was $2,628 million. The income
tax rate is 40%.
Calculate earnings per share for the year ended December 31,
2018.
Swifty Corporation had 190000 shares of common stock, 19600
shares of convertible preferred stock, and $1430000...
Swifty Corporation had 190000 shares of common stock, 19600
shares of convertible preferred stock, and $1430000 of 5%
convertible bonds outstanding during 2018. The preferred stock is
convertible into 39500 shares of common stock. During 2015, Swifty
paid dividends of $0.90 per share on the common stock and $3 per
share on the preferred stock. Each $1,000 bond is convertible into
30 shares of common stock. The net income for 2018 was $602000 and
the income tax rate was 35%....
Meyer Corp has 400, 000 shares of common stock outstanding
throughout 2017. In addition, the corporation...
Meyer Corp has 400, 000 shares of common stock outstanding
throughout 2017. In addition, the corporation has 50,000 shares of
$20 par, 5% convertible preferred stock which it issued on June 1,
2017 The preferred stock was noncumulative and each share is
convertible into 6 shares of common stock. During 2017 the
corporation earned net income of $600,000. The tax rate was 20%
Meyer Corp did not declare a dividend in 2019. What should be the
diluted earnings per share...
The stockholders’ equity section of Bloom Corporation appears
below as of December 31, 2017.
8% preferred...
The stockholders’ equity section of Bloom Corporation appears
below as of December 31, 2017.
8% preferred stock, $50 par value, authorized
101,754 shares, outstanding 91,754
shares
$4,587,700
Common stock, $1.00 par, authorized and issued 10,827,200
shares
10,827,200
Additional paid-in capital
20,748,500
Retained earnings
$134,576,000
Net income
33,000,000
167,576,000
$203,739,400
Net income for 2017 reflects a total effective tax rate of 34%.
Included in the net income figure is a loss of $12,341,100 (before
tax) as a result of a non-recurring...
Brisky Corporation had net sales of $2,400,000 and interest
revenue of $31,000 during 2017. Expenses for...
Brisky Corporation had net sales of $2,400,000 and interest
revenue of $31,000 during 2017. Expenses for 2017 were cost of
goods sold $1,450,000, administrative expenses $212,000, selling
expenses $280,000, and interest expense $45,000. Brisky’s tax rate
is 30%. The corporation had 100,000 shares of common stock
authorized and 70,000 shares issued and outstanding during 2017.
Prepare a condensed multiple-step income statement for Brisky
Corporation. (Round earnings per share to 2 decimal
places, e.g. 1.48.)
Tung Pet Food Suppliers reported$7,200,000 net income for the
current year. The company indicated that it...
Tung Pet Food Suppliers reported$7,200,000 net income for the
current year. The company indicated that it has $6,700,000,
6%convertible debt issued at par and $500,000 par value, 5%
nonconvertible, cumulative preferred shares outstanding. The firm
did not declare dividends for the current year. It issued the bonds
on May 31 and the preferred shares were outstanding for the entire
year. Based on this information, determine the numerator of the
earnings per share fraction for both basic earnings per share and...