During 2024, Ryabova entered into the following transactions relating to shareholders' equity. The corporation was authorized to issue 20 million common shares, $1 par per share. Net income for 2024 was $116 million. January 2 Issued 10 million common shares for cash. January 3 Entered an agreement with the company president to issue up to 2 million additional shares of common stock in 2024 based on the earnings of Ryabova in 2024. If net income exceeds $100 million, t president will receive 1 million shares; if net income exceeds $120 million, the president will receive 2 million shares. Required: Compute basic and diluted EPS for 2024. Note: Round your answers to 2 decimal places. Basic EPS____ Diluted EPS
During 2024, Ryabova entered into the following transactions relating to shareholders' equity. The corporation was authorized to issue 20 million common shares, $1 par per share. Net income for 2024 was $116 million. January 2 Issued 10 million common shares for cash. January 3 Entered an agreement with the company president to issue up to 2 million additional shares of common stock in 2024 based on the earnings of Ryabova in 2024. If net income exceeds $100 million, t president will receive 1 million shares; if net income exceeds $120 million, the president will receive 2 million shares. Required: Compute basic and diluted EPS for 2024. Note: Round your answers to 2 decimal places. Basic EPS____ Diluted EPS
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 26E: Tama Companys capital structure consists of common stock and convertible bonds. At the beginning of...
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![During 2024, Ryabova entered into the following
transactions relating to shareholders' equity. The
corporation was authorized to issue
20 million common shares, $1 par per share.
Net income for 2024 was $116 million.
January 2 Issued 10 million common shares for cash.
January 3 Entered an agreement with the company
president to issue up to 2 million additional shares of
common stock in 2024 based on the earnings of
Ryabova in 2024. If net income exceeds $100 million, the
president will
receive 1 million shares; if net income exceeds $120
million, the president will receive 2 million shares.
Required:
Compute basic and diluted EPS for 2024.
Note: Round your answers to 2 decimal places.
Basic EPS
Diluted EPS__.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F950ebe63-1143-4363-a920-140224c3e4ad%2F8f13ee2d-9adb-4513-8a85-fc6fedd36be2%2Fk5hv0g8_processed.png&w=3840&q=75)
Transcribed Image Text:During 2024, Ryabova entered into the following
transactions relating to shareholders' equity. The
corporation was authorized to issue
20 million common shares, $1 par per share.
Net income for 2024 was $116 million.
January 2 Issued 10 million common shares for cash.
January 3 Entered an agreement with the company
president to issue up to 2 million additional shares of
common stock in 2024 based on the earnings of
Ryabova in 2024. If net income exceeds $100 million, the
president will
receive 1 million shares; if net income exceeds $120
million, the president will receive 2 million shares.
Required:
Compute basic and diluted EPS for 2024.
Note: Round your answers to 2 decimal places.
Basic EPS
Diluted EPS__.
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