323,000 shares of $1 par value common stock et income for 2025 was $2,579,000. No cash dividends were declared or paid during 2025. On February 15, 2026, however, all referred dividends in arrears were paid, together with a 5% stock dividend on common shares. There were no dividends in arrears rior to 2025. n April 1, 2025, 457,000 shares of common stock were sold for $10 per share, and on October 1, 2025, 109,000 shares of commo ock were purchased for $21 per share and held as treasury stock. ompute earnings per share for 2025. Assume that financial statements for 2025 were issued in March 2026. (Round answer to 2 ecimal places, e.g. 2.55.) Earnings per share $
323,000 shares of $1 par value common stock et income for 2025 was $2,579,000. No cash dividends were declared or paid during 2025. On February 15, 2026, however, all referred dividends in arrears were paid, together with a 5% stock dividend on common shares. There were no dividends in arrears rior to 2025. n April 1, 2025, 457,000 shares of common stock were sold for $10 per share, and on October 1, 2025, 109,000 shares of commo ock were purchased for $21 per share and held as treasury stock. ompute earnings per share for 2025. Assume that financial statements for 2025 were issued in March 2026. (Round answer to 2 ecimal places, e.g. 2.55.) Earnings per share $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![At January 1, 2025, Coronado Company's outstanding shares included the following.
252,000 shares of $50 par value, 7% cumulative preferred stock
823,000 shares of $1 par value common stock
Net income for 2025 was $2,579,000. No cash dividends were declared or paid during 2025. On February 15, 2026, however, all
preferred dividends in arrears were paid, together with a 5% stock dividend on common shares. There were no dividends in arrears
prior to 2025.
On April 1, 2025, 457,000 shares of common stock were sold for $10 per share, and on October 1, 2025, 109,000 shares of common
stock were purchased for $21 per share and held as treasury stock.
Compute earnings per share for 2025. Assume that financial statements for 2025 were issued in March 2026. (Round answer to 2
decimal places, e.g. 2.55.)
Earnings per share $](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd77d9f3f-020f-417a-b291-542a221a7106%2Fc22a967d-129f-450f-87e8-53cc72ff09e8%2Fkcu351_processed.png&w=3840&q=75)
Transcribed Image Text:At January 1, 2025, Coronado Company's outstanding shares included the following.
252,000 shares of $50 par value, 7% cumulative preferred stock
823,000 shares of $1 par value common stock
Net income for 2025 was $2,579,000. No cash dividends were declared or paid during 2025. On February 15, 2026, however, all
preferred dividends in arrears were paid, together with a 5% stock dividend on common shares. There were no dividends in arrears
prior to 2025.
On April 1, 2025, 457,000 shares of common stock were sold for $10 per share, and on October 1, 2025, 109,000 shares of common
stock were purchased for $21 per share and held as treasury stock.
Compute earnings per share for 2025. Assume that financial statements for 2025 were issued in March 2026. (Round answer to 2
decimal places, e.g. 2.55.)
Earnings per share $
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