Need help with doing the statement entries on accounting paper. *Homework due by next week, 10/12/2023.FINANCIAL ACCOUNTING IIAs of January 2, 2021, The Triple J Company had the following items in itscapital structure:o 12,000 shares of preferred stock issued, with a par value of $7, amarket value of $12, an annual dividend of $2, and 3,000 shares in thetreasury, and24,000 shares of common stock issued, with a stated value of $5, amarket value of $9, and 4,000 shares in the treasury.On April 1, 2021, Triple J issued 8,000 additional shares of common stockfor cash.Triple J also had stock warrants outstanding which were issued onSeptember 30, 2021, and which could be converted into 24,000 shares ofcommon stock, beginning in 2024.In addition, Triple J had stock options outstanding, originally issued in 2019,that could be exercised in 2023 for 12,000 shares. The exercise price pershare is $8, and the cash that would be received from the hypotheticalexercise of the stock options would permit Triple J to reacquire 8,138 sharesof its own stock in the marketplace.Triple J's net income was $278,000 for the year ended December 31,2021.Prepare a schedule of the earnings per share reported by The Triple JCompany for 2021. 76890453Approv9of125678S394702314Jeffrey WangTriple J CompanyComputation of Earnings Per share [EPS]For the Year Ended December 31, 2021F= $10,0002INITIALSDATEBusicPrepared By Approved Byhilatel

It represents the portion of a company's profit allocated to each outstanding share of common stock.…

As of January 2, 2021, The Triple J Company had the following items in its capital structure: o 12,000 shares of preferred stock issued, with a par value of $7, a market value of $12, an annual dividend of $2, and 3,000 shares in the treasury, and 24,000 shares of common stock issued, with a stated value of $5, a market value of $9, and 4,000 shares in the treasury.

As of January 2, 2021, The Triple J Company had the following items in its capital structure: o 12,000 shares of preferred stock issued, with a par value of $7, a market value of $12, an annual dividend of $2, and 3,000 shares in the treasury, and 24,000 shares of common stock issued, with a stated value of $5, a market value of $9, and 4,000 shares in the treasury.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 27E: Percy Company has 15,000 shares of common stock outstanding during all of 2019. It also has 2...

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