Exercise 19-14 (Static) EPS; stock dividend; nonconvertible preferred stock [LO19-5, 19-6, 19-7] Hardaway Fixtures' balance sheet at December 31, 2023, included the following: Shares issued and outstanding: Common stock, $1 par Nonconvertible preferred stock, $50 par $ 800,000 20,000 On July 21, 2024, Hardaway issued a 25% stock dividend on its common stock. On December 12, it paid $50,000 cash dividends on the preferred stock. Net income for the year ended December 31, 2024, was $2,000,000. Required: Compute Hardaway's earnings per share for the year ended December 31, 2024. Note: Do not round intermediate calculations. Enter your answers in thousands (i.e., 10,000 should be entered as 10). Numerator Denominator Earnings per Share 0
Exercise 19-14 (Static) EPS; stock dividend; nonconvertible preferred stock [LO19-5, 19-6, 19-7] Hardaway Fixtures' balance sheet at December 31, 2023, included the following: Shares issued and outstanding: Common stock, $1 par Nonconvertible preferred stock, $50 par $ 800,000 20,000 On July 21, 2024, Hardaway issued a 25% stock dividend on its common stock. On December 12, it paid $50,000 cash dividends on the preferred stock. Net income for the year ended December 31, 2024, was $2,000,000. Required: Compute Hardaway's earnings per share for the year ended December 31, 2024. Note: Do not round intermediate calculations. Enter your answers in thousands (i.e., 10,000 should be entered as 10). Numerator Denominator Earnings per Share 0
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Exercise 19-14 (Static) EPS; stock dividend; nonconvertible preferred stock [LO19-5, 19-6, 19-7]
Hardaway Fixtures' balance sheet at December 31, 2023, included the following:
Shares issued and outstanding:
Common stock, $1 par
Nonconvertible preferred stock, $50 par
$ 800,000
20,000
On July 21, 2024, Hardaway issued a 25% stock dividend on its common stock. On December 12, it paid $50,000 cash dividends on
the preferred stock. Net income for the year ended December 31, 2024, was $2,000,000.
Required:
Compute Hardaway's earnings per share for the year ended December 31, 2024.
Note: Do not round intermediate calculations. Enter your answers in thousands (i.e., 10,000 should be entered as 10).
Numerator
Denominator = Earnings per Share
0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0098864d-7688-4ffb-9a03-ab272e8301b6%2Faa514d64-1daf-4b49-9a37-1b6a7ed8044e%2Fdhy57c8_processed.png&w=3840&q=75)
Transcribed Image Text:Exercise 19-14 (Static) EPS; stock dividend; nonconvertible preferred stock [LO19-5, 19-6, 19-7]
Hardaway Fixtures' balance sheet at December 31, 2023, included the following:
Shares issued and outstanding:
Common stock, $1 par
Nonconvertible preferred stock, $50 par
$ 800,000
20,000
On July 21, 2024, Hardaway issued a 25% stock dividend on its common stock. On December 12, it paid $50,000 cash dividends on
the preferred stock. Net income for the year ended December 31, 2024, was $2,000,000.
Required:
Compute Hardaway's earnings per share for the year ended December 31, 2024.
Note: Do not round intermediate calculations. Enter your answers in thousands (i.e., 10,000 should be entered as 10).
Numerator
Denominator = Earnings per Share
0
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