Assume that Wildhorse Corp. earned net income of $3,346,000 during 2026. In addition, it had 100,000 shares of 9%, $100 par nonconvertible, noncumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the company did not declare and pay a preferred dividend in 2026. Compute earnings per share for 2026, using the weighted average number of shares determined in part (a). (Round answer to 2 decimal places, eg 2.55) Earnings per share $
Assume that Wildhorse Corp. earned net income of $3,346,000 during 2026. In addition, it had 100,000 shares of 9%, $100 par nonconvertible, noncumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the company did not declare and pay a preferred dividend in 2026. Compute earnings per share for 2026, using the weighted average number of shares determined in part (a). (Round answer to 2 decimal places, eg 2.55) Earnings per share $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please help me
Transcribed Image Text:(b)
Assume that Wildhorse Corp. earned net income of $3,346,000 during 2026. In addition, it had 100,000 shares of 9%, $100 par
nonconvertible, noncumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the
company did not declare and pay a preferred dividend in 2026. Compute earnings per share for 2026, using the weighted-average
number of shares determined in part (a). (Round answer to 2 decimal places, eg. 2.55)
Earnings per share
eTextbook and Media
Transcribed Image Text:On January 1, 2026, Wildhorse Corp. had 474,000 shares of common stock outstanding, During 2026, it had the following
transactions that affected the common stock account.
February 1
March 1
May 1
June 1
October 1
(a)
Issued 126,000 shares
Issued a 10% stock dividend
Acquired 100,000 shares of treasury stock
Issued a 3-for-1 stock split
Reissued 62.000 shares of treasury stock
Your Answer Correct Answer
Your answer is correct.
Determine the weighted-average number of shares outstanding as of December 31, 2026.
The weighted average number of shares outstanding
1760850
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education