(a) Compute earnings per share for each year. (Round answer to 2 decimal places, e.g. 10.50.)
(a) Compute earnings per share for each year. (Round answer to 2 decimal places, e.g. 10.50.)
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 67E: Cash Dividends on Common and Preferred Stock Lemon Inc. has the following information regarding its...
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![On January 1, 2022, Sheffield Corporation purchased 6,500 shares of treasury stock. Other information regarding Sheffield
Corporation is provided as follows.
Net income
Dividends on preferred stock
Dividends on common stock
Weighted-average number of common shares outstanding
Common stockholders' equity beginning of year
Common stockholders' equity end of year
Earnings per share
2021
$
2021
LA
$130,000
$39,000
$26,000
65,000
$780,000
$975,000
(a) Compute earnings per share for each year. (Round answer to 2 decimal places, e.g. 10.50.)
2022
2022
$143,000
$39,000
$32,500
58,500
$975,000
$1,079,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fdcb243ff-8485-46ad-9b0a-712ee6593f4c%2Fa1603217-a22c-43f8-9b83-6190c8fa34e9%2Fti9wnxe_processed.jpeg&w=3840&q=75)
Transcribed Image Text:On January 1, 2022, Sheffield Corporation purchased 6,500 shares of treasury stock. Other information regarding Sheffield
Corporation is provided as follows.
Net income
Dividends on preferred stock
Dividends on common stock
Weighted-average number of common shares outstanding
Common stockholders' equity beginning of year
Common stockholders' equity end of year
Earnings per share
2021
$
2021
LA
$130,000
$39,000
$26,000
65,000
$780,000
$975,000
(a) Compute earnings per share for each year. (Round answer to 2 decimal places, e.g. 10.50.)
2022
2022
$143,000
$39,000
$32,500
58,500
$975,000
$1,079,000
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