Bryson Corporation has income from continuing items of $580,000 and a gain on discontinued operations, net of tax, of $240,000. In addition, it has declared preferred dividends of $1 per share on 100,000 shares of preferred stock outstanding. The changes in Bryson's common stock shares outstanding during 2025 are as follows. Date Share Changes Shares Outstanding January 1 Beginning Balance 180,000 May 1 Purchased 30,000 shares for the treasury (30,000) 150,000 July 1 Additional shares due to 3 for 1 stock split 300,000 450,000 December 31 Issued 50,000 shares for cash 50,000 December 31 Ending balance 500,000 INSTRUCTIONS a. Compute Bryson's earnings per share. b. Indicate the presentation of earnings per share on the face of the income statement.
Bryson Corporation has income from continuing items of $580,000 and a gain on discontinued operations, net of tax, of $240,000. In addition, it has declared preferred dividends of $1 per share on 100,000 shares of preferred stock outstanding. The changes in Bryson's common stock shares outstanding during 2025 are as follows. Date Share Changes Shares Outstanding January 1 Beginning Balance 180,000 May 1 Purchased 30,000 shares for the treasury (30,000) 150,000 July 1 Additional shares due to 3 for 1 stock split 300,000 450,000 December 31 Issued 50,000 shares for cash 50,000 December 31 Ending balance 500,000 INSTRUCTIONS a. Compute Bryson's earnings per share. b. Indicate the presentation of earnings per share on the face of the income statement.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 21P: Waseca Company had 5 convertible securities outstanding during all of 2019. It paid the appropriate...
Related questions
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 5 steps with 4 images
Recommended textbooks for you
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning