Bay Area Supplies had 60,000 shares of common stock outstanding at January (1. On May 1, Bay Areas Supplies issued 31,500 shares of common stock. Outstanding all year were 30,000 shares of nonconvertible preferred stock on which a dividend of P4 per share was paid in December. Net income for the year was P290,100. Bay Area Supplies should report basic earnings per share for the year of Choices; P1.86. P2.10. P2.84. P3.17.
Bay Area Supplies had 60,000 shares of common stock outstanding at January (1. On May 1, Bay Areas Supplies issued 31,500 shares of common stock. Outstanding all year were 30,000 shares of nonconvertible preferred stock on which a dividend of P4 per share was paid in December. Net income for the year was P290,100. Bay Area Supplies should report basic earnings per share for the year of Choices; P1.86. P2.10. P2.84. P3.17.
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 12RE: Given the following year-end information, compute Greenwood Corporations basic and diluted earnings...
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Bay Area Supplies had 60,000 shares of common stock outstanding at January (1. On May 1, Bay Areas Supplies issued 31,500 shares of common stock. Outstanding all year were 30,000 shares of nonconvertible preferred stock on which a dividend of P4 per share was paid in December. Net income for the year was P290,100. Bay Area Supplies should report basic earnings per share for the year of
Choices;
P1.86.
P2.10.
P2.84.
P3.17.
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