Determine the weighted-average number of shares outstanding as of December 31, 2021. The weighted-average number of shares outstanding 1.709.350 (b) Assume that Flounder Corp. earned net income of $3,383,000 during 2021. In addition, it had 96,000 shares of 10%, $100 par nonconvertible, noncumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the company did not declare and pay a preferred dividend in 2021 Compute earnings per share for 2021, using the weighted-average number of shares determined in part (a). (Round answer to 2 decimal places, eg $2.55.) Earnings Per Share

Determine the weighted-average number of shares outstanding as of December 31, 2021. The weighted-average number of shares outstanding 1.709.350 (b) Assume that Flounder Corp. earned net income of $3,383,000 during 2021. In addition, it had 96,000 shares of 10%, $100 par nonconvertible, noncumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the company did not declare and pay a preferred dividend in 2021 Compute earnings per share for 2021, using the weighted-average number of shares determined in part (a). (Round answer to 2 decimal places, eg $2.55.) Earnings Per Share

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

Section: Chapter Questions

Problem 27CE: Calculating the Number of Shares Issued Castalia Inc. issued shares of its $0.80 par value common...

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