At the end of 2020, the records of Block Corporation reflected the following. Common stock, $5 par, authorized 500,000 shares Outstanding January 1, 2020, 400,000 shares $2,000,000 Sold and issued April 1, 2020, 2,000 shares 10,000 Issued 5% stock dividend, September 30, 2020; 20,100 shares 100,500 Preferred stock, 6%, $10 par, nonconvertible, noncumulative, authorized 50,000 shares Outstanding during year, 20,000 shares 200,000 Paid-in capital in excess of par, common stock 180,000 Paid-in capital in excess of par, preferred stock 100,000 Retained earnings (after the effects of current preferred dividends declared during 2020) 640,000 Bonds payable, 6.5%, nonconvertible, issued at par January 1, 2020 1,000,000 Net income 164,000 Income tax rate, 25% a. Compute the required EPS amount(s) Net Income Available to Common Stockholders Weighted Avg. Common Shares Outstanding Per Share Basic EPS Answer Answer Answer Net Income Available to Common Stockholders Weighted Avg. Common Shares Outstanding Per Share Diluted EPS Answer Answer Answer
At the end of 2020, the records of Block Corporation reflected the following. Common stock, $5 par, authorized 500,000 shares Outstanding January 1, 2020, 400,000 shares $2,000,000 Sold and issued April 1, 2020, 2,000 shares 10,000 Issued 5% stock dividend, September 30, 2020; 20,100 shares 100,500 Preferred stock, 6%, $10 par, nonconvertible, noncumulative, authorized 50,000 shares Outstanding during year, 20,000 shares 200,000 Paid-in capital in excess of par, common stock 180,000 Paid-in capital in excess of par, preferred stock 100,000 Retained earnings (after the effects of current preferred dividends declared during 2020) 640,000 Bonds payable, 6.5%, nonconvertible, issued at par January 1, 2020 1,000,000 Net income 164,000 Income tax rate, 25% a. Compute the required EPS amount(s) Net Income Available to Common Stockholders Weighted Avg. Common Shares Outstanding Per Share Basic EPS Answer Answer Answer Net Income Available to Common Stockholders Weighted Avg. Common Shares Outstanding Per Share Diluted EPS Answer Answer Answer
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
Chapter15: Contributed Capital
Section: Chapter Questions
Problem 16E: Contributed Capital Adams Companys records provide the following information on December 31, 2019:...
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Computing EPS: Simple Capital Structure
At the end of 2020, the records of Block Corporation reflected the following.
Common stock, $5 par, authorized 500,000 shares | ||
Outstanding January 1, 2020, 400,000 shares | $2,000,000 | |
Sold and issued April 1, 2020, 2,000 shares | 10,000 | |
Issued 5% stock dividend, September 30, 2020; 20,100 shares | 100,500 | |
Outstanding during year, 20,000 shares | 200,000 | |
Paid-in capital in excess of par, common stock | 180,000 | |
Paid-in capital in excess of par, preferred stock | 100,000 | |
640,000 | ||
Bonds payable, 6.5%, nonconvertible, issued at par January 1, 2020 | 1,000,000 | |
Net income | 164,000 | |
Income tax rate, 25% |
a. Compute the required EPS amount(s)
Net Income Available to Common Stockholders |
Weighted Avg. Common Shares Outstanding |
Per Share |
|
---|---|---|---|
Basic EPS
|
Answer | Answer | Answer |
Net Income Available to Common Stockholders |
Weighted Avg. Common Shares Outstanding |
Per Share |
|
---|---|---|---|
Diluted EPS
|
Answer | Answer | Answer |
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