On January 1, 2024, Jaewoo Industries had outstanding 800,000 common shares ($1 par) that originally sold for $20 per share, and 3,000 shares of 10% cumulative preferred stock ($100 par), convertible Into 30,000 common shares. . On October 1, 2024, Jaewoo sold and issued an additional 20,000 shares of common stock at $36. • At December 31, 2024, there were 28,000 Incentive stock options outstanding, Issued In 2023, and exercisable after one year for 28,000 shares of common stock at an exercise price of $30. • The market price of the common stock at year-end was $48. · During the year, the price of the common shares had averaged $40. • Net Income was $940,000. The tax rate for the year was 25%. Required: Compute basic and diluted EPS for the year ended December 31, 2024. Note: Do not round Intermediate calculations. Except for per share amounts, enter your answers in thousands (I.e., 10,000 should be entered as 10). Round "Earnings per share" answer to 2 decimal places. Basic Diluted Numerator + Denominator Earnings per share

On January 1, 2024, Jaewoo Industries had outstanding 800,000 common shares ($1 par) that originally sold for $20 per share, and 3,000 shares of 10% cumulative preferred stock ($100 par), convertible Into 30,000 common shares. . On October 1, 2024, Jaewoo sold and issued an additional 20,000 shares of common stock at $36. • At December 31, 2024, there were 28,000 Incentive stock options outstanding, Issued In 2023, and exercisable after one year for 28,000 shares of common stock at an exercise price of $30. • The market price of the common stock at year-end was $48. · During the year, the price of the common shares had averaged $40. • Net Income was $940,000. The tax rate for the year was 25%. Required: Compute basic and diluted EPS for the year ended December 31, 2024. Note: Do not round Intermediate calculations. Except for per share amounts, enter your answers in thousands (I.e., 10,000 should be entered as 10). Round "Earnings per share" answer to 2 decimal places. Basic Diluted Numerator + Denominator Earnings per share

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter13: Earnings Per Share (eps)

Section: Chapter Questions

Problem 1R: Ponce Towers, Inc., had 50,000 shares of common stock and 10,000 shares of 100 par value, 8%...

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Silva Company is authorized to issue 5,000,000 shares of $2 par value common stock. In its IPO, the company has the following transaction: Mar. 1, issued 500,000 shares of stock at $15.75 per share for cash to investors. Journalize this transaction.
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