On January 1, 2021, Monty Corp. had 459,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account.February 1 Issued 126,000 sharesMarch 1 Issued a 10% stock dividendMay 1 Acquired 101,000 shares of treasury stockJune 1 Issued a 3-for-1 stock splitOctober 1 Reissued 62,000 shares of treasury stock(b)Assume that Monty 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, e.g. $2.55.)Earnings Per Share (d)Assume the same facts as in part (b), except that net income included a loss from discontinued operations of $434,000 (net of tax). Compute earnings per share for 2021.enter a dollar amount per share rounded to 2 decimaldollar amount per share rounded to 2 decimal placesa total earnings per share amount rounded to 2 decimal places
On January 1, 2021, Monty Corp. had 459,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account.
February 1 Issued 126,000 shares
March 1 Issued a 10% stock dividend
May 1 Acquired 101,000 shares of
June 1 Issued a 3-for-1 stock split
October 1 Reissued 62,000 shares of treasury stock
(b)
Assume that Monty Corp. earned net income of $3,383,000 during 2021. In addition, it had 96,000 shares of 10%, $100 par nonconvertible, noncumulative
Earnings Per Share
(d)
Assume the same facts as in part (b), except that net income included a loss from discontinued operations of $434,000 (net of tax). Compute earnings per share for 2021.
enter a dollar amount per share rounded to 2 decimal
dollar amount per share rounded to 2 decimal places
a total earnings per share amount rounded to 2 decimal places
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