dditional Information: Common shares outstanding at January 1, 2024 Incentive stock options (vested in 2023) outstanding throughout 2024 (Each option is exercisable for one common share at an exercise price of $23.00) During the year, the market price of Stanley's common stock averaged $27.60 per share. On August 30, Stanley sold 15,00e common shares. Stanley's only debt consisted of $36,000 of 10% short-term bank notes. The company's income tax rate is 25%. required: Compute Stanley's basic and diluted earnings per share for the year ended December 31, 2024. lote: Do not round Intermediate calculations. Enter your answers in thousands (I.e., 10,000 should be entered as 0). Basic Diluted Numerator + + Denominator = 90,000 24,000 Earnings per Share
dditional Information: Common shares outstanding at January 1, 2024 Incentive stock options (vested in 2023) outstanding throughout 2024 (Each option is exercisable for one common share at an exercise price of $23.00) During the year, the market price of Stanley's common stock averaged $27.60 per share. On August 30, Stanley sold 15,00e common shares. Stanley's only debt consisted of $36,000 of 10% short-term bank notes. The company's income tax rate is 25%. required: Compute Stanley's basic and diluted earnings per share for the year ended December 31, 2024. lote: Do not round Intermediate calculations. Enter your answers in thousands (I.e., 10,000 should be entered as 0). Basic Diluted Numerator + + Denominator = 90,000 24,000 Earnings per Share
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
intermediate accounting II
please show work and explain. thank you.
question 7
Transcribed Image Text:Stanley Department Stores reported net Income of $776,000 for the year ended December 31, 2024.
Additional Information:
Common shares outstanding at January 1, 2024
Incentive stock options (vested in 2023) outstanding throughout 2024
(Each option is exercisable for one common share at an exercise price of $23.00)
During the year, the market price of Stanley's common stock averaged $27.60 per share.
On August 30, Stanley sold 15,000 common shares.
stanley's only debt consisted of $36,000 of 10% short-term bank notes.
The company's income tax rate is 25%.
Required:
Compute Stanley's basic and diluted earnings per share for the year ended December 31, 2024.
Note: Do not round Intermediate calculations. Enter your answers in thousands (l.e., 10,000 should be entered as
10).
Basic
Diluted
Numerator
+
+
Denominator
=
90,000
24,000
Earnings per Share
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 with 1 images
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