Question

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
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
PART 1 Bonita Corporation had 116,400 shares of stock outstanding on January 1, 2020. On May...
PART 1 Bonita Corporation had 116,400 shares of stock outstanding on January 1, 2020. On May 1, 2020, Bonita issued 68,400 shares. On July 1, Bonita purchased 9,240 treasury shares, which were reissued on October 1. Compute Bonita’s weighted-average number of shares outstanding for 2020. Weighted-average number of shares outstanding    PART 2 Larkspur Corporation reported net income of $181,440 in 2020 and had 45,900 shares of common stock outstanding throughout the year. Also outstanding all year were 5,400 shares...
On December 31, 2016, Wildhorse Corporation had 154,000 common shares outstanding. On April 30, 2017, the...
On December 31, 2016, Wildhorse Corporation had 154,000 common shares outstanding. On April 30, 2017, the company issued an additional 59,000 common shares for cash. On July 31, 2017, the company repurchased and cancelled 27,000 common shares. During the year ended December 31, 2017, Wildhorse earned income before taxes of $40,000,000. Not included in this income was a loss from discontinued operations of $4,900,000 before tax. The company was subject to a 22% income tax rate. Calculate earnings per share...
On December 31, 2017, Jackson Company had 100,000 shares of common stock outstanding and 34,000 shares...
On December 31, 2017, Jackson Company had 100,000 shares of common stock outstanding and 34,000 shares of 5%, $50 par, cumulative preferred stock outstanding. On February 28, 2018, Jackson purchased 28,000 shares of common stock on the open market as treasury stock for $39 per share. Jackson sold 6,400 treasury shares on September 30, 2018, for $41 per share. Net income for 2018 was $184,905. Also outstanding during the year were fully vested incentive stock options giving key personnel the...
A company earned net income of $1,500,000 in 2019 and had 150,000 shares of common stock...
A company earned net income of $1,500,000 in 2019 and had 150,000 shares of common stock outstanding on January 1, 2019. The tax rate is 20% and the common stock sold at an average market price of $24 per share during the period. The company had the following transactions affecting common shares outstanding during the year: • Issued 50,000 shares of common stock on March 1, 2019 • Repurchased 5,000 shares of common stock on June 1, 2019 • Had...
Abby Company had 150,000 shares of common stock outstanding on January 1, 2018. On September 30,...
Abby Company had 150,000 shares of common stock outstanding on January 1, 2018. On September 30, 2018, Abby sold 30,000 shares of common stock for cash. Abby also had 100, 8%, convertible bonds outstanding throughout 2018. Each $1,000 bond is convertible into 20 shares of common stock. The bonds sold originally at face value. The company also had 10,000 executive stock options outstanding that allowed executives to purchase shares of stock for $11.00. The average share price for the year...
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...
On December 31, 2017, Jackson Company had 100,000 shares of common stock outstanding and 30,000 shares...
On December 31, 2017, Jackson Company had 100,000 shares of common stock outstanding and 30,000 shares of 7%, $50 par, cumulative preferred stock outstanding. On February 28, 2018, Jackson purchased 24,000 shares of common stock on the open market as treasury stock paying $45 per share. Jackson sold 6,000 of the treasury shares on September 30, 2018, for $47 per share. Net income for 2018 was $180,905. Also outstanding at December 31, 2017, were fully vested incentive stock options giving...
AAA corp reported net income of $230,000 and had 400,000 shares of common stock outstanding for...
AAA corp reported net income of $230,000 and had 400,000 shares of common stock outstanding for the whole year. The firm had 2,000 shares of 10%, 100 par, preferred stock outstanding for the year. Each share of preferred is convertible to 40 shares of common. During the year, it issued 1,200 $1,000 par value, 7% bonds. Each bond is convertible to 100 shares of common. The firm has 20,000 stock options outstanding, and each option allows the holder to purchase...
NEZNEZ Corporation had net income for 2018 of $36,500. NEZNEZ had 1,800 shares of common stock...
NEZNEZ Corporation had net income for 2018 of $36,500. NEZNEZ had 1,800 shares of common stock outstanding at the beginning of the year and 24,200 shares of common stock outstanding as of December​ 31, 2018. During the​ year, NEZNEZ declared and paid preferred dividends of $20,250. Compute NEZNEZ​'s earnings per share. Select the​ formula, then enter the amounts to calculate NEZNEZ ​Corporation's earnings per share as of December​ 31, 2018. ​(Abbreviations used: Ave.​ = average, OS​ = outstanding, SE​ =...
Swifty Corporation had 1,000,000 shares of common stock issued and outstanding at December 31, 2020. On...
Swifty Corporation had 1,000,000 shares of common stock issued and outstanding at December 31, 2020. On July 1, 2021 an additional 1,000,000 shares were issued for cash. Swifty also had stock options outstanding at the beginning and end of 2021 which allow the holders to purchase 291000 shares of common stock at $28 per share. The average market price of Swifty’s common stock was $35 during 2021. The number of shares to be used in computing diluted earnings per share...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT