I need unique and correct answer. Don't try to copy from anywhere. Do not give answer in image formet and hand writing Following are separate income statements for Austin, Inc., and its 80 percent-owned subsidiary, Rio Grande Corporation as well as aconsolidated statement for the business combination as a whole (credit balances indicated by parentheses).RevenuesCost of goods soldOperating expensesEquity in earnings of Rio GrandeIndividual company net incomeConsolidated net incomeNoncontrolling interest in consolidated net incomeConsolidated net income attributable to AustinAustin$ (734,000)434,000134,000(111,200)$ (277,200)BasicDilutedRio Grande:$ (534,000)266,000104,000$ (164,000)Earnings PerShareConsolidated$ (1,268,000)700,000263,000Additional Information• Annual excess fair over book value amortization of $25,000 resulted from the acquisition.The parent applies the equity method to this investment.Austin has 50,000 shares of common stock and 10,000 shares of preferred stock outstanding. Owners of the preferred stock arepaid an annual dividend of $60,000, and each share can be exchanged for two shares of common stock.• Rio Grande has 48,000 shares of common stock outstanding. The company also has 14,000 stock warrants outstanding. For $10.each warrant can be converted into a share of Rio Grande's common stock. Austin holds half of these warrants. The price of RioGrande's common stock was $20 per share throughout the year.• Rio Grande also has convertible bonds, none of which Austin owned. During the current year, total interest expense (net of taxes)was $39,000. These bonds can be exchanged for 15,000 shares of the subsidiary's common stock.(305,000)(27,800)$ (277, 200)Determine Austin's basic and diluted EPS. (Round your intermediate percentage value to 1 decimal place. Round your final answersto 2 decimal places.)

SOLUTION:-Basic Earnings per share:Austin Net income = $277,200Austin preferred dividends =…

Answered: Determine Austin's basic and diluted…

Determine Austin's basic and diluted EPS. (Round your intermediate percentage value to 1 decimal place. Round your final answers to 2 decimal places.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

The communication process consists of many stages. In which stage of the communication the receiver interprets the message and translates it into meaningful information? O a. Feedback O b. Noise Oc. Encoding O d. Decoding
Required information [The following information applies to the questions displayed below.] Consider the following narrative describing the process of filling a customer's order at a Starbucks branch: Identify the start and end events and the activities in the following narrative, and then draw the business process model using BPMN: the Starbucks customer entered the drive-through lane and stopped to review the menu. He then ordered a Venti coffee of the day and a blueberry muffin from the barista. The barista recorded the order in the cash register. While the customer drove to the window, the barista filled a Venti cup with coffee, put a lid on it, and retrieved the muffin from the pastry case and placed it in a bag. The barista handed the bag with the muffin and the hot coffee to the customer. The customer has an option to pay with cash, credit card, or Starbucks gift card. The customer paid with a gift card. The barista recorded the payment and returned the card along with the…
CAN I SEE THE MANUAL WORKING OF THE PROBLEM
I need this in text not images
Need urgent answer please. (1) Is COSO relevant for internal control? This is a full question and not any essay question. Need brief and plagirism free answer. Answer should not be too short.
Solve this early but not in excel. Handwriting or typed answer only
What are reversing entries, and how do they work?
Assume a world that meets all assumptions of the portfolio theory. In this world we solely trade in securities A and B like depicted in the graph below. Short selling is allowed. xA and XB indicate the proportions of security A and B within a portfolio respectively. P1, P2, P3 and P4 represent portfolios that can be created by trading (either long and/or short) in securhies A and B. P3 is the portfolio with the lowest risk; the risk of P3 is 0%. The risk of security A and B is measured by the standard deviation of the returns in the particular security and equals 20% for both. The correlation coefficient of the returns between A and B is -1. 40% P1 E(R) A 30% P2 20% P3 10% P4 ++ 30% 0% 10% 20% 40% O(R) Question: Indicate which statements are correct. Take into account that everything is possible, from all correct to all wrong.
help please, the answers I put are not correct
Discuss the characteristics of a computerized information system that make it different from the manual system.
look at the image to solve the question