Crane Inc. presented the following data.Net income$2,354,580Preferred stock: 45,000 shares outstanding, $100 par, 8% cumulative, not convertible4,500,000Common stock: Shares outstanding 1/1811,200Issued for cash, 5/1302,400Acquired treasury stock for cash, 8/1151,2002-for-1 stock split, 10/1Compute earnings per share. (Round answer to 2 decimal places, e.g. 2.55.)

It represents the portion of a company's profit allocated to each outstanding share of common stock.…

Answered: Crane Inc. presented the following…

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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Tamarisk Inc. presented the following data. Net income Preferred stock: 52,000 shares outstanding, $100 par, 8% cumulative, not convertible Common stock: Shares outstanding 1/1 Issued for cash, 5/1 Acquired treasury stock for cash, 8/1 2-for-1 stock split, 10/1 Compute earnings per share. (Round answer to 2 decimal places, e.g. 2.55.) Earnings per share $ 1.11 $2,392,940 5,200,000 816,000 273,600 136,800
Barbur, Incorporated reported net income of $12.5625 million. During the year the average number of common shares outstanding was 3.35 million. The price of a share of common stock at the end of the year was $5. There were 540,000 shares of preferred stock outstanding on average and no dividends were declared and the preferred stock is noncumulative. The EPS is: Multiple Choice O C O $0.27. $3.51. $3.61. $3.75.
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Share Issuances for Cash Finlay, Inc., issued 4,000 shares of $50 par value preferred stock at $119 per share and 6,000 sharesof no-par value common stock at $18 per share. The common stock has no stated value. All issuances were for cash. a. Determine the financial statement effect of the share issuances (preferred and common). Balance Sheet Income Statement Assets = Liabilities + Equity Revenues - Expenses = Net Income Answer Answer Answer Answer Answer Answer b. Determine the financial statement effect of the issuance of the common stock assuming that it had a stated value of $5 per share. Balance Sheet Income Statement Assets = Liabilities + Equity Revenues - Expenses = Net Income Answer Answer Answer Answer Answer Answer c. Determine the financial statement effect of the issuance of the common stock assuming that it had a par value of…
Splish Inc. presented the following data. Net income $2,700,000Preferred stock: 48,000 shares outstanding, $100 par, 8% cumulative, not convertible 4,800,000Common stock: Shares outstanding 1/1 781,200Issued for cash, 5/1 278,400Acquired treasury stock for cash, 8/1 153,6002-for-1 stock split, 10/1 Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.)
Skysong Inc. presented the following data. Net income Preferred stock:52,000shares outstanding, $100 par, 8% cumulative, not convertible Common stock: Shares outstanding 1/1 Issued for cash, 5/1 Acquired treasury stock for cash, 8/1 2-for-1 stock split, 10/1 Compute earnings per share.(Round answer to 2 decimal places, e.g. $2.55.) Earnings per share $ $2,470,000 5,200,000 736,800 315,600 134,400
Financial statement data for the years ended December 31 for Cottontop Corporation follow: 20Y3 20Y2 Net income $768,750 $627,750 Preferred dividends $117,000 $117,000 Average number of common shares outstanding 55,000 shares 45,000 shares a. Determine the earnings per share for 20Y3 and 20Y2. Round your answers to two decimal places. 20Y3 $fill in the blank 1 per share 20Y2 $fill in the blank 2 per share b. Does the change in the earnings per share from 20Y2 to 20Y3 indicate a favorable or unfavorable trend?
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A company reports the following: Net income $420,200 Preferred dividends $31,130 Shares of common stock outstanding 33,000 Market price per share of common stock $34.19 Calculate the company's earnings per share on common stock. Round your answer to the nearest cent.
Company E reports the following stockholders' equity: Common Stock, 100,000 authorized, 30,000 issued, $3 par ? Paid-In Common Stock 93,000 Less: Treasury Stock, 5000 shares (15,000) Retained Earnings 40,000 Assume that Company E pays a $1 per share dividend to its common shareholders. What would be the ending balance in Retained Earnings after the dividend was paid?

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