Throughout the year, Baker Construction Company had3 million shares of common stock and 150,000 shares ofconvertible preferred stock outstanding. Each share ofpreferred is convertible into two shares of common. Whatnumber of shares should be used in the computation of( a ) basic earnings per share and ( b ) diluted earnings pershare?

Q: Rye Company has provided the following information: • Weighted average number of outstanding common…

A: Earnings per share (EPS): The amount of net income available to each shareholder per common share…

Q: Lightfoot Inc., a software development firm, has stock outstanding as follows: 15,000 shares of…

A: The question is based on the concept of Financial Accounting. Preference shares carries the dividend…

Q: Richards Corporation had net income of $196,700 and paid dividends to common stockholders of…

A: Earning per Share= Net income-(preferred stock dividend)/No. of shares outstanding Price earning…

Q: Ecker Company reports $1,950,000 of net income and declares $273,000 of cash dividends on its…

A: In order to determine the Earning per share, the Earnings available to common shareholders are…

Q: A company had stock outstanding as follows during each of its first three years of operations: 1,000…

A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…

Q: The net income of Foster Furniture, Inc., amounted to $1,920,000 for the current year. a. Compute…

A: Earnings per share: Earnings per share represent the amount of income earned per share of…

Q: At year end, National Corporation balance sheet showed total assets of P70,000,000, total…

A: Given: Total assets = P70,000,000, Total liabilities = P35,000,000 Preferred share capital =…

Q: James Company has 1,600 shares of $100 par preferred stock, which were issued at par. It also has…

A: Book value per share is the amount of shareholder's equity which is attributable to holder of common…

Q: The statement of shareholders’ equity of Bethsheda Storage Corporation for the year ended December…

A: Balance sheet is the financial statement of the company which provides information related to the…

Q: On December 31, Noah Co. had 40,000 weighted average outstanding ordinary shares. During the year,…

A: Calculation of basic learning for shares is done then consideration of only ordinary shares is taken…

Q: Kelley Company reports $960,000 of net Income and declares \$120,000 of cash dividends on its…

A: Earnings per share refer to the amount earned by each stockholder. This can be identified by…

Q: Junkyard Arts, Inc., had earnings of $172,300 for the year. The company had 23,000 shares of common…

A: Earnings per share refer to the amount earned by each stockholder. This can be identified by…

Q: Richards Corporation had net income of $305,067 and paid dividends to common stockholders of…

A: Price earnings ratio: It is the ratio used for valuing the company and to measure whether the…

Q: Ecker Company reports $1,800,000 of net income and declares $252,000 of cash dividends on its…

A: Basic earnings per share = Net income available to common stockholders / Weighted average shares of…

Q: Presented below is the information necessary to compute the net assets and book value…

A: Note: It is assume that retained earnings is in negative amount i.e. in deficit. It is assume that…

Q: DY Corporation declared the regular quarterly dividend of P2 per share.  It had issued12,000 shares…

A: Shares outstanding = Shares issued - Treasury stock shares Shares outstanding = 12,000 - 2,000…

Q: Howard corporation had 10,000 shares of common stock outstanding at the beginning of the year. On…

A: Weighted average number of shares is the total number of outstanding shares calculated at the end of…

Q: A company had stock outstanding as follows during each of its first three years of operations: 2,500…

A: 1. Annual Preferred dividend  = No. of shares*face value per share*dividend % = 2,500*$100*10% =…

Q: The Harbinger Corporation reported net income of $6 million and total assets of $7 million in its…

A: Earnings per share (EPS): The amount of net income available to each shareholder per common share…

Q: Richards Corporation had net income of $241,562 and paid dividends to common stockholders of…

A: Price earning ratio is calculated as market value of share divided by earning per share. Earning per…

Q: At the end of the accounting period, Houston Company had $6,600 of common stock, paid-in capital in…

A: Stockholders Equity can be calculated by subtracting the total liabilities of a business from total…

Q: A company had stock outstanding as follows during each of its first three years of operations: 1,000…

A: working note PREFERED DIVIDEND = 1,000 *100*9%=$9000

Q: Morrison Corporation had the following common stock record during the current calendar year:…

A: When the profit has to be divided by the number of shares, it is called earnings per share. In this…

Q: Trans Union Corporation issued 5,000 shares for $50 per share in the current year, and it…

A:

Q: PickApart Arts, Inc., had earnings of $565,300 for the year. The company had 55,000 shares of common…

A: Preferred dividend = No. Od preferred stock x dividend per share = 23000 shares x $2.10 per share =…

Q: Murray Company reports net income of $770,000 for the year. It has no preferred stock, and its…

A: Basic Earnings per share: It is a financial ratio. It is calculating by divides net earnings…

Q: Netpass Company has 600,000 shares of common stock authorized, 510,000 shares issued, and 240,000…

A: Dividend is paid on the shares outstanding. Shares outstanding = Shares issued - Treasury shares…

Q: Eastline Corporation had 11,000 shares of $10 par value common stock outstanding when the board of…

A: Large stock dividend, A stock dividend is considered to be large if the new shares being issued are…

Q: A company had stock outstanding as follows during each of its first three years of operations: 2,000…

A: Preference Stock: These are the shares that earn a fixed rate of dividend on the number of shares…

Q: Trenton Company has provided the following Information: • Net Income, $320,000; • Preferred shares…

A: A ratio that provides information regarding the share price of a company by relating it to the…

Q: The following information was taken from the financial statements of Tolbert Inc. for December 31 of…

A: (a)Calculate EPS:

Q: The following information was taken from the financial statements of Tolbert Inc. for December 31 of…

A: Dividend can be defined as the profit that is distributed by a corporation to its shareholders.…

Q: Ecker Company reports $2,700,000 of net income and declares $388,020 of cash dividends on its…

A: Earnings per share (EPS): The amount of net income available to each shareholder per common share…

Q: A company had stock outstanding as follows during each of its first three years of operations: 4,000…

A: Solution: Computation of dividend per share to Preferred and common shareholders Year Total…

Q: The balance sheet for Lauren Inc. shows the following: total paid-in capital and retained earnings…

A: Given, Total paid-in capital and retained earnings= $877,000 Total stockholders’ equity = $817,000…

Q: Windborn Company has 30,000 shares of cumulative preferred 3% stock, $100 par and 50,000 shares of…

A: In case of cumulative preferred stock any amounts of dividend that has been missed in the past will…

Q: Net income was $200,800 for the year. Throughout the year the company had outstanding 12,000 shares…

A: Formula: Basic EPS = ( Net Income - preferred dividend ) / outstanding shares of common stock.

Q: Blake Distributors had 100,000 common shares outstanding at the beginning of the year, January 1. On…

A: EPS = (Net income - Preferred dividen) / Weighted average number of Common shares

Q: In a recent year, the stockholders’ equity section of Aluminum Company of America (Alcoa) showed the…

A: Workings: Shareholders equity section:

Q: At the end of the accounting period, Houston Company had $8,000 of par value common stock issued,…

A: Stockholders equity include common stock, retained earning but does not include treasury stock.

Q: Mave company has given the following data about its common stock: Par value =$1 per share…

A: Treasury stock or shares are the stock which was brought back by the company. Outstanding shares of…

Q: Lightfoot Inc., a software development firm, has stock outstanding as follows: 30,000 shares of…

A: Solution: Dividend per share for each class of stock is being computed as under:

Q: Mave company has given the following data about its common stock:   Par value is=$1 per share…

A: Treasury stock or shares are the stock which was brought back by the company.   =Total shares issued…

Q: Given the following year-end information, compute Greenwood Corporation’s basic and diluted earnings…

A: A share represents in a firm is a unit of stock ownership. Dividends are distributed to shareholders…

Q: Darren Company had 600,000 ordinary shares outstanding on January 1, issued 120,000 shares on May 1,…

A: Weighted average number of shares outstanding is the sum of all outstanding shares multiplied by the…

Q: company had stock outstanding as follows during each of its first three years of operations: 2,000…

A: Dividend is the part or share of profits that is being distributed to the shareholders. It can be…

Q: Bonita Corporation reports net income of $306,250 and a weighted-average of 175,000 shares of common…

A: EPS (Earning Per Share) for common stock is computed by the formula: Net Income / Weighted Average…

Q: Junkyard Arts, Inc., had earnings of $446,400 for the year. The company had 54,000 shares of common…

A: Junkyard earnings = $ 446400 Common stock outstanding = 54000 shares Number of preferred stock =…