At December 31, 2020, Albrecht Corporation had outstanding 388,000 shares of common stock and 10,000 shares of 9.5%, $100 par value cumulative, nonconvertible preferred stock. On May 31, 2021, Albrecht sold for cash 12,000 shares of its common stock. No cash dividends were declared for 2021. For the year ended December 31, 2021, Albrecht reported a net loss of $2,038,000. Required: Calculate Albrecht's net loss per share for the year ended December 31, 2021. (Enter your answers in thousands. Negative amounts should be indicated by a minus sign. Do not round intermediate calculations.)
At December 31, 2020, Albrecht Corporation had outstanding 388,000 shares of common stock and 10,000 shares of 9.5%, $100 par value cumulative, nonconvertible preferred stock. On May 31, 2021, Albrecht sold for cash 12,000 shares of its common stock. No cash dividends were declared for 2021. For the year ended December 31, 2021, Albrecht reported a net loss of $2,038,000. Required: Calculate Albrecht's net loss per share for the year ended December 31, 2021. (Enter your answers in thousands. Negative amounts should be indicated by a minus sign. Do not round intermediate calculations.)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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At December 31, 2020, Albrecht Corporation had outstanding 388,000 shares of common stock and 10,000 shares of 9.5%, $100 par value cumulative, nonconvertible preferred stock. On May 31, 2021, Albrecht sold for cash 12,000 shares of its common stock. No cash dividends were declared for 2021. For the year ended December 31, 2021, Albrecht reported a net loss of $2,038,000.
Required:
Calculate Albrecht's net loss per share for the year ended December 31, 2021. (Enter your answers in thousands. Negative amounts should be indicated by a minus sign. Do not round intermediate calculations.)
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