Compute basic earnings per share for 2021Compute the diluted earnings per share for 2021 Assume that the following data relative to Blossom Company for 2021 is available:Net Income$2,800,000Transactions in Common SharesChangeCumulativeJan. 1, 2021, Beginning number720,000Mar. 1, 2021, Purchase of treasury shares(53,400)666,600June 1, 2021, Stock split 2-1666,6001,333,200Nov. 1, 2021, Issuance of shares228,0001,561,2006% Cumulative Convertible Preferred StockSold at par, convertible into 180,000 shares ofcommon (adjusted for split).$900,000Stock Options93,000 sharesExercisable at the option price of $25 per share. Averagemarket price in 2021, $30 (market price and option priceadjusted for split).

Calculation of basic and diluted earnings per share are as follows

Answered: Compute basic earnings per share for…

Business

Accounting

Compute basic earnings per share for 2021 Compute the diluted earnings per share for 2021

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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