3. Aero Corp. provides the following data for20x1.Transactions in common stock:1/1, beginning4/1, issuance6% $100 par convertible cumulative preferredstock$200,000Issued at $210,000, convertible into 20,000sharesStockoptionsOptionprice$2560,000 sharesAverage marketpriceYear-end marketprice$40300,000 shares100,000 shares$35The net income for 20x1 is $2,300,000. Thecompany's tax rate is 30 percent. No conversionor options were exercised during 20x1.1) Compute basic earnings per share (rounded to2 decimal places) for 20x1. Show yourcomputations.2) Compute diluted earnings per share (roundedto 2 decimal places) for 20x1. Show yourcomputations

Earnings per share (EPS) is one of many ways investors can measure the financial performance of a…

Answered: 3. Aero Corp. provides the following…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The following data is available for Crane Corporation at December 31, 2025: Common stock, par $10 (authorized 31500 shares) $283500 Treasury stock (at cost $15 per share) $1080 Based on the data, how many shares of common stock are issued? O 28278. O 31428. O 31500. O 28350.
Raphael Corporation’s balance sheet shows the following stockholders’ equity section. Preferred stock—5% cumulative, $___ par value, 1,000 sharesauthorized, issued, and outstanding $ 95,000 Common stock—$___ par value, 4,000 shares authorized, issued,and outstanding 160,000 Retained earnings 310,000 Total stockholders' equity $ 565,000 4. If two years’ preferred dividends are in arrears at the current date and the board of directors declares cash dividends of $20,100, what total amount will be paid to the preferred and to the common shareholders?
Splish Inc. presented the following data. Net income $2,700,000Preferred stock: 48,000 shares outstanding, $100 par, 8% cumulative, not convertible 4,800,000Common stock: Shares outstanding 1/1 781,200Issued for cash, 5/1 278,400Acquired treasury stock for cash, 8/1 153,6002-for-1 stock split, 10/1 Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.)
Prepare the journal entry to record Zende Company's issuance of 75,000 shares of $5 par value common stock assuming the shares sell for: a. $5 cash per share. b. $6 cash per share. View transaction list Journal entry worksheet 1 > Record the issuance of 75,000 shares of $5 par value common stock assuming the shares sell for $5 cash per share. Note: Enter debits before credits. 3/ F6 F7 F8 F9 F10
Norling Corporation reports the following information: Net income Dividends on common stock Dividends on preferred stock Weighted average common shares outstanding Norling should report earnings per share of O $1.50. O $1.80 O $2.20. O $2.50. $500,000 140,000 60,000 200,000
Required information [The following information applies to the questions displayed below.] Raphael Corporation's balance sheet shows the following stockholders' equity section. Preferred stock-5% cumulative, $ par value, 1,000 shares authorized, issued, and outstanding Common stock-$ par value, 4,000 shares authorized, issued, and outstanding Retained earnings Total stockholders' equity $ 50,000 80,000 150,000 $ 280,000 2. If two years' preferred dividends are in arrears at the current date and the board of directors declares cash dividends of $11,500, compute the total amount paid to (a) preferred shareholders and (b) common shareholders.
The balance sheet of Consolidated Paper, Inc., included the following shareholders' equity accounts at December 31, 2020: Paid-in capital: Preferred stock, 7.5%, 88,000 shares at $1 par Common stock, 383,800 shares at $1 par Paid-in capital-excess of par, preferred Paid-in capital-excess of par, common Retained earnings $ 88,000 383,800 1,505,000 2,555,000 •8,845,000 (41,800) Treasury stock, at cost; 3,800 common shares Total shareholders' equity $13,335,000 During 2021, several events and transactions affected the retained earnings of Consolidated Paper.
Gordon Corporation reported the following equity section on its current balance sheet. The common stock is currently selling for OMR 11.50 per share. Common stock, OMR 5 par, 100,000 shares authorized, 40,000 shares issued OMR 200,000 Paid in capital in excess of par—common 120,000 Retained earnings 290,000 Total stockholders' equity OMR 610,000 If the company declared and issued 10% stock dividend? What will the number of issued shares Select one: a. 20,000 shares b. 44,000 shares c. 40,000 shares d. 4,000 shares
The following selected data were taken from the financial statements of Vidahill Inc. for December 31, 20Y7, 20Y6, and 20Y5: December 31 20Y7 20Y6 20Y5 Total assets $174,000 $157,000 $140,000 Notes payable (8% interest) 60,000 60,000 60,000 Common stock 24,000 24,000 24,000 Preferred 6% stock, $100 par 12,000 12,000 12,000 (no change during year) Retained earnings 63,550 47,100 36,000 The 20Y7 net income was $17,170, and the 20Y6 net income was $11,820. No dividends on common stock were declared between 20Y5 and 20Y7. Preferred dividends were declared and paid in full in 20Y6 and 20Y7. a. Determine the return on total assets, the return on stockholders' equity, and the return on common stockholders’ equity for the years 20Y6 and 20Y7. When required, round to one decimal place. 20Y7 20Y6 Return on total assets fill in the blank 1 % fill in the blank 2 % Return on stockholders’ equity fill in the blank 3 % fill…
Based on the following information, what is the market weight of common stock/market weight of preferred stock/market weight of bonds (long-term debt) Given: Source of capital Common Stock Preferred stock 155,000 shares Bonds ($1000 par value) 190,000 bonds 31%/5%/64% 60%/9%/31% # shares or bonds outstanding 1.9 million shares 35%/12%/53% 85%/7%/8% Mkt Price $48.00/share $102/share $985 per bond
Prepare the journal entry to record Jevonte Company's issuance of 38,000 shares of its common stock assuming the shares have a: a. $3 par value and sell for $16 cash per share. b. $3 stated value and sell for $16 cash per share. View transaction list Journal entry worksheet 1 Record the issuance of 38,000 shares of common stock assuming the shares have a $3 par value and sell for $16 cash per share. 2 Note: Enter debits before credits. Transaction a. General Journal Debit Credit >
The balance sheet of Consolidated Paper, Inc., Included the following shareholders' equity accounts at December 31, 2020: Paid-in capital: Preferred stock, 8.0, 93,000 shares at $1 par Common stock, 434,300 shares at $1 par Paid-in capital-excess of par, preferred Paid-in capital-excess of par, common Retained earnings Treasury stock, at cost; 4,300 common shares ar $ 93,000 434,300 1,545,000 2,595,000 9,245,000 (51,600) $13,860,700 16 Total shareholders' equity During 2021, several events and transactions affected the retained earnings of Consolidated Paper. Required: 1. Prepare the appropriate entries for these events. a. On March 3, the board of directors declared a property dividend of 265,000 shares of Leasco International common stock that Consolidated Paper had purchased in January as an investment (book value: $772,000). The investment shares had a fair value of $3 per share and were distributed March 31 to shareholders of record March 15. b. On May 3, a 5-for-4 stock split was…

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