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Exercise 9-13 (Algo) Calculate basic EPS LO 7 Ringmeup Inc. had net income of $168.600 for the year ended December 31, 2019. At the beginning of the year, 44,000 shares of common stock were outstanding. On May 1, an additional 10,000 shares were issued. On December 1, the company purchased 4,000 shares of its own common stock and held them as treasury stock until the end of the year. No other changes in common shares outstanding occurred during the year. During the year, Ringmeup paid the annual dividend on the 9,000 shares of 3.70%, $100 par value preferred stock that were outstanding the entire year. Required: Calculate basic earnings per share of common stock for the year ended December 31, 2019. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Earnings per share

Exercise 9-13 (Algo) Calculate basic EPS LO 7 Ringmeup Inc. had net income of $168.600 for the year ended December 31, 2019. At the beginning of the year, 44,000 shares of common stock were outstanding. On May 1, an additional 10,000 shares were issued. On December 1, the company purchased 4,000 shares of its own common stock and held them as treasury stock until the end of the year. No other changes in common shares outstanding occurred during the year. During the year, Ringmeup paid the annual dividend on the 9,000 shares of 3.70%, $100 par value preferred stock that were outstanding the entire year. Required: Calculate basic earnings per share of common stock for the year ended December 31, 2019. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Earnings per share

FINANCIAL ACCOUNTING
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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Exercise 9-13 (Algo) Calculate basic EPS LO 7 Ringmeup Inc. had net income of $168.600 for the year ended December 31, 2019. At the beginning of the year, 44,000 shares of common stock were outstanding. On May 1, an additional 10,000 shares were issued. On December 1, the company purchased 4,000 shares of its own common stock and held them as treasury stock until the end of the year. No other changes in common shares outstanding occurred during the year. During the year, Ringmeup paid the annual dividend on the 9,000 shares of 3.70%, $100 par value preferred stock that were outstanding the entire year. Required: Calculate basic earnings per share of common stock for the year ended December 31, 2019. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Earnings per share
Transcribed Image Text:Exercise 9-13 (Algo) Calculate basic EPS LO 7 Ringmeup Inc. had net income of $168.600 for the year ended December 31, 2019. At the beginning of the year, 44,000 shares of common stock were outstanding. On May 1, an additional 10,000 shares were issued. On December 1, the company purchased 4,000 shares of its own common stock and held them as treasury stock until the end of the year. No other changes in common shares outstanding occurred during the year. During the year, Ringmeup paid the annual dividend on the 9,000 shares of 3.70%, $100 par value preferred stock that were outstanding the entire year. Required: Calculate basic earnings per share of common stock for the year ended December 31, 2019. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Earnings per share
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