At December 31, 2020, Sager Co. had 1,200,000 shares of common stock outstanding. In addition, Sager had 450,000 shares of preferred stock which were convertible into 750,000 shares of common stock. During 2021, Sager paid $1,200,000 cash dividends on the common stock and $800,000 cash dividends on the preferred stock. Net income for 2021 was $6,800,000 and the income tax rate was 40%. The diluted earnings per share for 2021 is (rounded to the nearest penny) a. $2.48. b. $5.66. c. $3.49. d. $5.00.

Q: Blacklands, Inc. engages in the following common stock transactions in 2020 for its $1 par value…

A: A financial statement is one that is prepared by the company in a structured format that contains…

Q: Marigold Inc. had net income for the current year ending December 31, 2020 of $872,880. During the…

A: Earnings per share refers to the profit earned during the period that is attributable to each common…

Q: AUBURN Corporation had 120,000 of ordinary shares issued and outstanding at January 1, 2021. On…

A: Formula: Basic earnings per share = Net income available to Ordinary shareholders / No. of Ordinary…

Q: At December 31, 2020 and 2021, Funk & Noble Corporation had outstanding 1,000 million shares of…

A: Formula: Earnings per share = (Net Income - Preferred dividends) / No. of common shares outstanding…

Q: At December 31, 2020, Coronado Industries had 1140000 shares of common stock outstanding. In…

A: We know that the diluted earnings per share is the net income generated by each outstanding share…

Q: On December 31, 2020, Berclair Inc. had 480 million shares of common stock and 5 million shares of…

A: 1) Basic Earnings Per Share = (Net Profit - Preference Shares Dividends) / Weighted Average O/s…

Q: Monona Company reported net income of $29,975 for 2019. During all of 2019, Monona had 1,000 shares…

A: Earnings per share refer to the amount that is earned by the stockholders on every share held by…

Q: In 2019, Hesin Corporation reported net income of 1,000,000,It declared and paid preferred stock…

A: Earnings Per Share: =[Net Income - Preferred Dividends] / Number of common shares outstanding

Q: Ivanhoe Corporation had 80,000 common shares outstanding on December 31, 2019. During 2020, the…

A: Event Dates Outstanding Shares Restatement Months Weighted shares     (a) (b) (c) (a*b*c)…

Q: If income tax rate is 30%, how much is the diluted EPS for the year ended December 31 , 2020

A: Formula: Diluted EPS=Net Income-Preferred Dividend PaidWeighted Avarage No of common shares+…

Q: During 2021, R Co. had the following two classes of stock issued and outstanding for the entire…

A:

Q: At December 31, 2020 and 2021, Funk & Noble Corporation had outstanding 840 million shares of…

A: Earnings per Share: Earnings per share help to measure the profitability of a company. Earnings per…

Q: 31, 2020, Berclair Inc. had 240 million shares of common stock and 6 million shares of 9%, $100 par…

A: please like the answer your response matters    Numerator Denominator EPS Basic 246 230 1.07…

Q: At December 31, 2020 and 2021, Funk & Noble Corporation had outstanding 820 million shares of…

A: Preferred Dividend         = No. of share x Par value per share x rate of dividend…

Q: Oriole Company had 196000 shares of common stock, 19200 shares of convertible preferred stock, and…

A: When all the convertible securities of the company are converted, then the EPS (Earning per share)…

Q: Ringmeup Inc. had net income of $197,300 for the year ended December 31, 2019. At the beginning of…

A: Earnings Per Share: =Earnings attributable to shareholders / Weighted average number of shares…

Q: Blacklands, Inc. engages in the following common stock transactions in 2020 for its $1 par value…

A: Hello. Since your question has multiple parts, we will solve the first question for you. If you want…

Q: On December 31, 2020, Berclair Inc. had 500 million shares of common stock and 20 million shares of…

A:

Q: Prepare a condensed multiple-step income statement for Brisky Corporation. (Round earnings per share…

A: Solution:- Given,  Brisky corporation had net sales = $2,400,000 Interest revenue = $31,000 Selling…

Q: On December 31, 2020, Berclair Inc. had 360 million shares of common stock and 4 million shares of…

A: Calculation of weighted Shares Outstanding during the year   PARTICULAR OUTSTANDING PERIOD…

Q: On December 31, 2020, Alexander Company had $1,200,000 of short-term debt in the form of notes…

A: Definition:   Liability: Liability is an agreement made by a company to pay a certain amount for the…

Q: In 2020, Hollis Corporation reported net income of $1,000,000. It declared and paid preferred stock…

A: Earnings per share = (Net income - Preferred dividend) / weighted average of common shares…

Q: At December 31, 2019, Talbot Corporation had 90,000 shares of common stock and 20,000 shares of…

A: Diluted Earnings per Share = Adjusted Net income /Weighted Average Shares

Q: Earnhart Corporation has outstanding 3,000,000 shares of common stock with a par value of $10 each.…

A: a. Prepare the journal entry to record the declaration and payment of the cash dividend.

Q: Phelps, Incorporated had assets of $67,646, llabilities of $15,466, and 10,718 shares of outstanding…

A: Ratio Analysis :— Ratio analysis is the process of Determination and interpreting numerical…

Q: On December 31, 2020, Berclair Inc. had 300 million shares of common stock and 5 million shares of…

A: EPS termed as Earnings per share which refers to the monetary value of the earnings per outstanding…

Q: Kimber Inc. reported net income of $177,500 during 2021.  At January 1, 2021 Kimber had 100,000…

A: EPS stands for earning per share. A company has two types of EPS i.e basic and diluted. Basic EPS is…

Q: At the beginning of 2021, Hamilton Company had retained earnings of $320,000. During the year…

A: Retained earnings represent the accumulated funds available to the company out of which the dividend…

Q: On January 1, 2020, Keith Company paid $96,000 for 8,000 shares of Jerry Company common stock. The…

A: Number of shares owned by Keith = 8,000 Price of shares = $96,000 Price per share = $96,000 / 8,000…

Q: On December 31, 2020, Berclair Inc. had 440 million shares of common stock and 3 million shares of…

A: Diluted earnings per share (diluted EPS) is calculated under the assumption that all convertible…

Q: Ringmeup Inc. had net income of $151,000 for the year ended December 31, 2019. At the beginning of…

A: Calculation of Basic Earnings per share: Thus, Basic Earnings per share is $2.84

Q: On December 31, 2020, Berclair Inc. had 600 million shares of common stock and 3 million shares of…

A: Introduction Convertible bond: An investment fixed-income corporate bonds asset known as a…

Q: On January 1, 2020, Concord Corporation purchased 1,100 shares of treasury stock. Other information…

A: Formula for Return on common stockholder's equity: Return on common stockholder's equity = (Net…

Q: At December 31, 2021, MedX Corporation had outstanding 200,000 shares of common stock. Also…

A: Basic earnings per share = (Net income - preferred dividend)/Weighted average outstanding common…

Q: On January 1, 2020, a company issued 10-year, $330,000 face value, 7% bonds, at par. Each $1,000…

A: Potential common stock = (Face value of bonds / par value per bond) x convertible  ratio = ($330,000…

Q: On December 31, 2019, JnT Co. had 2,000,000 shares of ordinary shares standing. On January 1, 2020,…

A: Earnings per share (EPS) can be defined as the ratio of total net income available for common…

Q: Rockland Corporation earned net income of $300,000 in 2020 and had 100,000 shares of common stock…

A: Saving in income tax net of tax = Interest expense *(1-tax rate) = ($800,000*9%)*(1-0.20) = $57,500

Q: On December 31, 2020, Dow Steel Corporation had 670,000 shares of common stock and 307,000 shares of…

A: Basic EPS   Numerator   Net income $ 2,450,000 Less : Preferred div $ 76,000 Income…

Q: On December 31, 2020, Berclair Inc. had 280 million shares of common stock and 3 million shares of…

A: working notes: Basic EPS: Weighted average shares of common stock outstanding. Basic EPS = Net…

Q: On December 31, 2020, Berclair Inc. had 500 million shares of common stock and 3 million shares of 9…

A: Given,   Net income   = $800 million   Preferred dividend  =  ( 9% ×$100=$9/share)…

Q: DiCenta Corporation reported net income of $270,000 in 2020 and had 50,000 shares of common stock…

A: Formula to calculate diluted earnings per share; Diluted EPS = Net income / weighted average number…

Q: On December 31, 2020, Dow Steel Corporation had 710,000 shares of common stock and 41,000 shares of…

A: Earnings per share = Net income available to Equity shareholders/weighted average number of shares

Q: On December 31, 2020, Dow Steel Corporation had 600,000 shares of common stock and 300,000 shares of…

A: Net Income $2,100,000 Less: preferred dividend $75,000 Profit available $2,025,000…

Q: Carla Corporation reported net income of $315,350 in 2020 and had 50,500 shares of common stock…

A: Computation of the Carla's 2020 diluted earnings per share as follows:

Q: On December 31, 2020, Berclair Inc. had 200 million shares of common stock and 3 million shares of…

A: Earnings per share represents the net earnings of the company held in hands of each shareholder.

Q: Ringmeup Inc. had net income of $148,800 for the year ended December 31, 2019. At the beginning of…

A: Weighted average number of outstanding shares = 38,000×412 + 53,000×712 + 48,300×112…

Q: As of December 31, 2020, the Russell Corporation has 10,000 shares of 10% preferred stock issued and…

A:

Q: Monitor Company has 120,000 ordinary shares issued and outstanding at January 1, 2020. On January 2…

A: Earnings per share represent the earnings held in hands of each shareholder of the company. It is…

Q: The Fontenelle Co. had 200,000 shares of common stock, 20,000 shares of convertible preferred stock,…

A: working note: income available to common share after conversion  = (net income - preferred dividend…

Q: On December 31, 2020, Berclair Inc. had 225 million shares of common stock and 4 million shares of…

A: Earning Per Share (EPS): Net profit divided by the number of common shares issued and outstanding is…

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.