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Hardaway Fixtures' balance sheet at December 31, 2023, Included the following:

Hardaway Fixtures' balance sheet at December 31, 2023, Included the following:

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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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 $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 (l.e., 10,000 should be entered as 10). Numerator $ 800,000 20,000 Denominator Earnings per Share
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 $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 (l.e., 10,000 should be entered as 10). Numerator $ 800,000 20,000 Denominator Earnings per Share
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