Hardaway Fixtures' balance sheet at December 31, 2023, included the following: Shares issued and outstanding: Common stock, $1 par Nonconvertible preferred stock, $50 par On July 21, 2024, Hardaway issued a 25% stock dividend on its common stock. On December 12, it paid $70,000 cash dividends on the preferred stock. Net income for the year ended December 31, 2024, was $4,600,000. $ 1,060,000 20,000 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 =
Hardaway Fixtures' balance sheet at December 31, 2023, included the following: Shares issued and outstanding: Common stock, $1 par Nonconvertible preferred stock, $50 par On July 21, 2024, Hardaway issued a 25% stock dividend on its common stock. On December 12, it paid $70,000 cash dividends on the preferred stock. Net income for the year ended December 31, 2024, was $4,600,000. $ 1,060,000 20,000 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 =
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Hardaway Fixtures' balance sheet at December 31, 2023, included the following:
Shares issued and outstanding:
Common stock, $1 par
Nonconvertible preferred stock, $50 par
On July 21, 2024, Hardaway issued a 25% stock dividend on its common stock. On December 12, it paid $70,000 cash dividends on
the preferred stock. Net income for the year ended December 31, 2024, was $4,600,000.
$ 1,060,000
20,000
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
11
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