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a. What EPS presentation is required-basic, diluted, or both? b. Compute the required EPS amount(s). Note: Enter the earnings per share amount in dollars and cents, rounded to the nearest penny. Net Income Available to Weighted Avg. Common Per Common Stockholders Shares Outstanding Share $ c. Compute the required EPS amount(s), assuming that the preferred stock is cumulative an there is one year of dividends in arrears. Note: Enter the earnings per share amount in dollars and cents, rounded to the nearest penny.

a. What EPS presentation is required-basic, diluted, or both? b. Compute the required EPS amount(s). Note: Enter the earnings per share amount in dollars and cents, rounded to the nearest penny. Net Income Available to Weighted Avg. Common Per Common Stockholders Shares Outstanding Share $ c. Compute the required EPS amount(s), assuming that the preferred stock is cumulative an there is one year of dividends in arrears. Note: Enter the earnings per share amount in dollars and cents, rounded to the nearest penny.

FINANCIAL ACCOUNTING
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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a. What EPS presentation is required-basic, diluted, or both? b. Compute the required EPS amount(s). • Note: Enter the earnings per share amount in dollars and cents, rounded to the nearest penny. Net Income Available to Weighted Avg. Common Common Stockholders Shares Outstanding $ c. Compute the required EPS amount(s), assuming that the preferred stock is cumulative and there is one year of dividends in arrears. Per Share • Note: Enter the earnings per share amount in dollars and cents, rounded to the nearest penny. $ Net Income Available to Weighted Avg. Common Per Common Stockholders Shares Outstanding Share S
Transcribed Image Text:a. What EPS presentation is required-basic, diluted, or both? b. Compute the required EPS amount(s). • Note: Enter the earnings per share amount in dollars and cents, rounded to the nearest penny. Net Income Available to Weighted Avg. Common Common Stockholders Shares Outstanding $ c. Compute the required EPS amount(s), assuming that the preferred stock is cumulative and there is one year of dividends in arrears. Per Share • Note: Enter the earnings per share amount in dollars and cents, rounded to the nearest penny. $ Net Income Available to Weighted Avg. Common Per Common Stockholders Shares Outstanding Share S
Computing EPS: Simple Capital Structure At the end of the year, the records of Block Corporation reflected the following. Common stock, $5 par, authorized 700,000 shares Outstanding January 1, 560,000 shares Sold and issued April 1, 2,800 shares Issued 5% stock dividend, September 30; 28,140 shares Preferred stock, 6%, $10 par, nonconvertible, noncumulative, authorized 70,000 shares Outstanding during year, 28,000 shares Paid-in capital in excess of par, common stock Paid-in capital in excess of par, preferred stock Retained earnings (after the effects of current preferred dividends declared) Bonds payable, 6.5%, nonconvertible, issued at par January 1 Net income Income tax rate, 25% a. What EPS presentation is required-basic, diluted, or both? $2,800,000 14,000 140,700 280,000 252,000 140,000 896,000 1,400,000 295,200
Transcribed Image Text:Computing EPS: Simple Capital Structure At the end of the year, the records of Block Corporation reflected the following. Common stock, $5 par, authorized 700,000 shares Outstanding January 1, 560,000 shares Sold and issued April 1, 2,800 shares Issued 5% stock dividend, September 30; 28,140 shares Preferred stock, 6%, $10 par, nonconvertible, noncumulative, authorized 70,000 shares Outstanding during year, 28,000 shares Paid-in capital in excess of par, common stock Paid-in capital in excess of par, preferred stock Retained earnings (after the effects of current preferred dividends declared) Bonds payable, 6.5%, nonconvertible, issued at par January 1 Net income Income tax rate, 25% a. What EPS presentation is required-basic, diluted, or both? $2,800,000 14,000 140,700 280,000 252,000 140,000 896,000 1,400,000 295,200
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