During 2021, R Co. had the following two classes of stock issued and outstanding for the entire year: • 400,000 shares of common stock, $1 par. • 2,000 shares of 4% preferred stock, $100 par, convertible share-for-share into common stock. R's 2021 net income was $1,800,000, and its income tax rate for the year was 25%. In the computation of diluted earnings per share for 2021, the amount to be used in the numerator is

Q: Marigold Inc. had net income for the current year ending December 31, 2020 of $872,880. During the…

A: Earnings per share refers to the profit earned during the period that is attributable to each common…

Q: On January 1, 2021, MARVEL Corporation's shareholders' equity comprised of P5,000,000 share capital,…

A: Retained earnings are the accumulated free reserves of the entity. Dividends paid are made from the…

Q: During 2021, CAPTAIN AMERICA Company had two classes of shares issued and outstanding for the entire…

A: Basic Earnings Per share = Earnings Available for Ordinary Share holders/Number of Ordinary Shares…

Q: At December 31, 2020 and 2021, Funk & Noble Corporation had outstanding 1,000 million shares of…

A: Formula: Earnings per share = (Net Income - Preferred dividends) / No. of common shares outstanding…

Q: At December 31, 2020 and 2021, Funk & Noble Corporation had outstanding 840 million shares of…

A: Earnings per Share: Earnings per share help to measure the profitability of a company. Earnings per…

Q: On December 31, 2020, Dow Steel Corporation had 770,000 shares of common stock and 317,000 shares of…

A: Calculation of W. Avg Number of shares (For Basic EPS)                 Calculation No of shares…

Q: On January 1, 2021, Novak Corp. had  479,000 shares of common stock outstanding. During 2021, it had…

A: Weighted-Average Common Shares is used as a denominator in computing for earnings-per-share. There…

Q: At December 31, 2020 and 2021, Funk & Noble Corporation had outstanding 820 million shares of…

A: Preferred Dividend         = No. of share x Par value per share x rate of dividend…

Q: Ringmeup Inc. had net income of $186,400 for the year ended December 31, 2019. At the beginning of…

A: Basic Earnings per share of common stock is computed by dividing the Net income less preferred…

Q: Rizzo Co. has Net Income of $279,000 for 2024. Over the past two years, the company had outstanding…

A: Earning per share represents the earnings of the company held in hands of each shareholder of the…

Q: Blue Spruce Limited reported profit of $436,010 for its November 30, 2021, year end. Cash dividends…

A: Profit available to common share holders= Net profit- Preference dividend = 436010-69500 = 366510

Q: On January 1, 2021, Windsor Corp. had 488,000 shares of common stock outstanding. During 2021, it…

A: Since the student has posted multiple requirements, we shall answer the first three alone. Thank…

Q: Oriole Company had 196000 shares of common stock, 19200 shares of convertible preferred stock, and…

A: When all the convertible securities of the company are converted, then the EPS (Earning per share)…

Q: On January 1, 2020, Volume Company had the following account balance carried over from the previous…

A: Shares are used to divide the capital of the company into small parts, so that it is will be…

Q: Sandhill Corporation had 3,500,000 shares of common stock outstanding on January 1, 2021. On April…

A: Basic Earnings Per Share = (Net Income - preferred dividend) / Weighted Average no. of common shares…

Q: On January 1, 2021, MARVEL Corporation's shareholders' equity comprised of P5,000,000 share capital,…

A: No. of shares = Share capital / Par value per share = 5,000,000/100 = 50,000 shares

Q: Concord Corporation had 199000 shares of common stock, 20700 shares of convertible preferred stock,…

A: The computation of the Basic earnings per share for 2021 is as follows:

Q: Diamond Corp. earned net income of $550,000 in 2021 and had 120,000 shares of common stock…

A: Diluted earnings per share = (Net income + interest expense net of tax) / (No. of shares of common…

Q: At December 31, 2020, the balance sheet of J.R. International included the following shareholders'…

A: Date Account Titles and Explanation Debit Credit Jan'15 Treasury Stock   (12,000 shares X $ 17 per…

Q: On January 1, 2021, Wildhorse Corporation had 980,000 shares of common stock outstanding. On March…

A: Note: Assume that the accounting period of Company starts in January and ends in December of every…

Q: At December 31, 2019, Talbot Corporation had 90,000 shares of common stock and 20,000 shares of…

A: Diluted Earnings per Share = Adjusted Net income /Weighted Average Shares

Q: On December 31, 2020 and 2019, Bucks Corporation had 105,000 Ordinary Shares issued, 5,000 shares in…

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

Q: On January 1, 2021, Tonge Industries had outstanding 820,000 common shares ($1 par) that originally…

A: EPS is earnings per share it is calculated using the following formula :    Basic EPS : Net income -…

Q: Culver Corporation reported net income of $282,540 in 2020 and had 45,000 shares of common stock…

A: Net Income:$282,540 Outstanding shares: 45,000 Convertible instruments: 10,400(5200*2)(for every…

Q: On January 1, 2021, Tonge Industries had outstanding 440,000 common shares ($l par) that originally…

A: Compute the basic and diluted earnings per share for the year ended December 31, 2021:  Compute the…

Q: Information from the financial statements of Henderson-Niles Industries included the following at…

A: There are two type of shares that are being issued by the company for arranging of finance. These…

Q: Kimber Inc. reported net income of $177,500 during 2021.  At January 1, 2021 Kimber had 100,000…

A: EPS stands for earning per share. A company has two types of EPS i.e basic and diluted. Basic EPS is…

Q: At the beginning of 2021, Hamilton Company had retained earnings of $320,000. During the year…

A: Retained earnings represent the accumulated funds available to the company out of which the dividend…

Q: On January 1, 2020, Keith Company paid $96,000 for 8,000 shares of Jerry Company common stock. The…

A: Number of shares owned by Keith = 8,000 Price of shares = $96,000 Price per share = $96,000 / 8,000…

Q: On January 1, 2020, Volume Company had the following account balance carried over from the previous…

A: Treasury Stock The purpose of issue of treasury stock which describes as the repurchase of own stock…

Q: Dayton, Inc. had 100,000 shares of common stock outstanding at January 1, 2022. On March 31, 2022,…

A: EPS is calculated using the below given formula: EPS=Earnings available to common…

Q: At December 31, 2021 and 2020, P Co. had 50,000 shares of common stock and 5,000 shares of 5%, $100…

A: Basic EPS = Net income (-) preferred dividend / common shares Preferred dividend = 5000 shares *…

Q: Rizzo Co. has Net Income of $279,000 for 2024. Over the past two years, the company had outstanding…

A: Earnings per share indicate the profits per share of common stockholders. It can be calculated by…

Q: Culver Corporation reported net income of $338,240 in 2020 and had 50,400 shares of common stock…

A:

Q: On January 1, 2021, Tonge Industries had outstanding 540,000 common shares ($1 par) that originally…

A: Basic earnings per share: - Basic EPS measures how much a business earns per share without going…

Q: At the beginning of 2021, Sunland Company had retained earnings of $409000. During the year Sunland…

A: Sunland company shall not recognize any gain or loss from stock transactions with its own…

Q: At December 31, 2021, MedX Corporation had outstanding 200,000 shares of common stock. Also…

A: Basic earnings per share = (Net income - preferred dividend)/Weighted average outstanding common…

Q: On January 1, 2020, a company issued 10-year, $330,000 face value, 7% bonds, at par. Each $1,000…

A: Potential common stock = (Face value of bonds / par value per bond) x convertible  ratio = ($330,000…

Q: Concord Inc. had net income for 2020 of $5,920,000. The company had 2,200,000 of common shares…

A: Ratio is a tool which is used to measure the firm’s performance and growth by establishing relation…

Q: Waterway Industries had 200000 shares of common stock, 19300 shares of convertible preferred stock,…

A: Diluted Earnings Per Share: The diluted earnings per share (diluted EPS) of a corporation is…

Q: Rockland Corporation earned net income of $300,000 in 2020 and had 100,000 shares of common stock…

A: Saving in income tax net of tax = Interest expense *(1-tax rate) = ($800,000*9%)*(1-0.20) = $57,500

Q: Information from the financial statements of Henderson-Niles Industries included the following at…

A: Definition of EPS: EPS stands for Eanings per share. It tells about the net profit earned on each…

Q: On January 1, 2021, Covid, Inc. had the following account balances in its shareholders' equity…

A: Working notes of statement of other equity is as follows: Resultant table:

Q: DiCenta Corporation reported net income of $270,000 in 2020 and had 50,000 shares of common stock…

A: Formula to calculate diluted earnings per share; Diluted EPS = Net income / weighted average number…

Q: Carla Corporation reported net income of $315,350 in 2020 and had 50,500 shares of common stock…

A: Computation of the Carla's 2020 diluted earnings per share as follows:

Q: Purple Cab Company had 60,000 shares of common stock outstanding on January 1, 2021. On April 1,…

A: Weighted average outstanding common stock =  60000 shares + 30000*9/12 = 82500 shares

Q: As of December 31, 2020, the Russell Corporation has 10,000 shares of 10% preferred stock issued and…

A:

Q: On January 1, 2021, Tonge Industries had outstanding 540,000 common shares ($1 par) that originally…

A: Earnings Per Share - Businesses all over the world exist to make money and increase the wealth of…

Q: On December 31, 2020, Berclair Inc. had 240 millton shares of common stock and 3 million shares of…

A: EPS means earnings per share. It represents the per share amount earned by the common stockholders.

Q: During 2021, CAPTAIN AMERICA Company had two classes of shares issued and outstanding for the entire…

A: The basic earnings per share is calculated as net income available to common shareholders divided by…

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.