Hardaway Fixtures' balance sheet at December 31, 2017, included the following: Shares issued and outstanding: Common stock, $1 par $ 800,000 Nonconvertible preferred stock, $50 par 20,000 On July 21, 2018, Hardaway issued a 25% stock dividend on its common stock. On December 12 it paid $50,000 cash dividends on the preferred stock. Net income for the year ended December 31, 2018, was $2,000,000. Required: Compute Hardaway's earnings per share for the year ended December 31, 2018
Hardaway Fixtures' balance sheet at December 31, 2017, included the following: Shares issued and outstanding: Common stock, $1 par $ 800,000 Nonconvertible preferred stock, $50 par 20,000 On July 21, 2018, Hardaway issued a 25% stock dividend on its common stock. On December 12 it paid $50,000 cash dividends on the preferred stock. Net income for the year ended December 31, 2018, was $2,000,000. Required: Compute Hardaway's earnings per share for the year ended December 31, 2018
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 19E: Lyon Company shows the following condensed income statement information for the year ended December...
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Hardaway Fixtures' balance sheet at December 31, 2017, included the following:
Shares issued and outstanding: | |||
Common stock, $1 par | $ | 800,000 | |
Nonconvertible |
20,000 | ||
On July 21, 2018, Hardaway issued a 25% stock dividend on its common stock. On December 12 it paid $50,000 cash dividends on the preferred stock. Net income for the year ended December 31, 2018, was $2,000,000.
Required:
Compute Hardaway's earnings per share for the year ended December 31, 2018. (Enter your answers in thousands.
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