Intermediate Accounting
9th Edition
ISBN: 9781259722660
Author: J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher: McGraw-Hill Education
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Textbook Question
Chapter 19, Problem 19.14E
EPS; stock dividend; nonconvertible
• LO19–5, LO19–6, LO19–7
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.
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Chapter 11 Comprehensive Problem – CP11-11
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Chapter 19 Solutions
Intermediate Accounting
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