In 2017 Pedroni Corporation reported net income of $1,000,000. It declared and paid preferred stock a dividend of $250,000. During 2017, Pedroni had a weighted average of 190,000 shares outstanding. Compute Pedroni's Earnings Per Share.

In 2017 Pedroni Corporation reported net income of $1,000,000. It declared and paid preferred stock a dividend of $250,000. During 2017, Pedroni had a weighted average of 190,000 shares outstanding. Compute Pedroni's Earnings Per Share.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: FV Company earned net income of $75,000 during the year ended December 31, 2012. On December 15, FV…

A: Dividend: A dividend is distribution of company’s earnings to its shareholders as determined by…

Q: The previous year&#39;s balance sheet for Brown&#39;s Produce showed total common equity of…

A: Given information: Previous year’s common equity is $4,050,000 Net income during the year is…

Q: Ecker Company reports $1,825,000 of net income for 2017 and declares $255,500 of cash dividends on…

A: Formula: Net income available to common stockholders=Net income for the year-Dividends on preferred…

Q: Richman Company had 100,000 shares of common stock outstanding as of January 1, 2017. The following…

A: The weighted average number of shares is calculated on the basis of time period for which shares…

Q: Waterway Corporation had wt ncoe of $200000 nd pd didends to common tclders of $25000 2017. the…

A: Dividend means the amount given to shareholder of the company as profit distribution by company.…

Q: Compute diluted earnings per share

A: Earnings per share is a financial measure that determines the residual earnings generated by each…

Q: On January 1, 2016, Wade Corporation had 24,000 shares of common stock outstanding. On April 1, it…

A: Common shares are issued by the company to fulfil its capital requirements. The common shareholders…

Q: On January 1, 2017 a company had the following data: Issued 5,000 shares of $1.00 par value common…

A: Cumulative preference shares give the shareholder a right to receive dividends that is not received…

Q: InterTractor America, Inc. reported net income (amounts in thousands) of $1,239,400 for 2017.…

A: Solution: Introduction: EPS stands for Earning Per share, which is a measure of financial…

Q: Kinley Inc. provides the following information for the year 2016: Net Income…

A: Earnings per share is the per share amount earned by the common shares of the entity. It is…

Q: The equity section of Atticus Group’s 2017 year-end balance sheet had 200,000 shares of $4 par value…

A: There are 2 kinds of stock splits:- 1. Forward stock split; 2. Reverse stock split

Q: Giraffe Resorts and Hospitality had 20,000 preferred shares and 40,000 common shares outstanding on…

A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Annual Dividend per…

Q: Gwinnett Park Co. reported net income of $253,300 for its fiscal year ended September 30, 2017. At…

A: Step 1:Computation of the weighted-average number of shares of common stock…

Q: Cisco Systems Inc. reported the following in its income statement for the year ended July 27, 2013:…

A: The financial ratios refer to the ratios that are calculated using the financial data from the…

Q: Madison Company earned net income of $75,000 during the year ended December 31, 2016. On December…

A: Dividend paid on Preferred stock = Par value of Preferred stock x rate of dividend = $150,000 x 8% =…

Q: Oil Services Corp. reports the following EPS data in its 2014 annual report (in millions except per…

A: The earning per share is calculated as net income divided by number of shares outstanding.

Q: Nagy Industries reported a net income of $569,369 on December 31, 2018. At the beginning of the…

A: Earnings Per Share (EPS) is a financial metric that represents the portion of a company's profit…

Q: Prepare the stockholders’ equity section of the balance sheet at December 31, 2017. Calculate the…

A: The payout ratio is the ratio which the company pays from the net earnings to its shareholders in…

Q: Starbuck Inc. reported EPS of $2.30 for 2013. In 2013 Starbuck had earnings available to common…

A: Outstanding shares of common stock means the shares that are eligible to receive the dividend and…

Q: Rockets Company has 100,000 of $1 par value authorized shares. As of December 31, 2016, the company…

A: Common stock : Common stock is a security issued by companies which entitles ownership and dividend…

Q: ($ in millions) 2018 $ 612 348 %24

A: Time net income for 2016= Closing Balance of retained Earning= 628(+) Cash Dividend Paid = 90(+)…

Q: Cracker Company had 2 million shares of common stock outstanding all through 2012. On April 1, 2013,…

A: EARNING PER SHARE (EPS) : = (NET INCOME - PREFERRED DIVIDENDS) / AVERAGE NUMBER OF COMMON SHARES…

Q: Culver Corporation reported net income of $682,000 in 2017 and had 217,000 shares of common stock…

Q: Sealy Corporation had the following information in its financial statements for the years ended 2014…

A: Average common stockholders equity = (Beginning common stockholder's equity + Ending common…

Q: At December 31, 2015 and 2016, Funk & Noble Corporation had outstanding 820 million shares of…

A: Preferrence Dividend = No. of share x Par value per share x rate of dividend = 2 million x $100 x…

Q: Carla Corporation reported net income of $644,000 in 2017 and had 234,000 shares of common stock…

A: Diluted Earnings per share = Net Income available to Common stockholders'Number of common stock…

Q: What is 2013 basic earnings per share?

A: Basic EPS=(Net income - Preferred Dividend) / Weighted average common shares outstanding

Q: During a recent year, Emerson Electric paid an annual dividend of $0.64 per share. Calculate the…

A: The share price is the current market price of the share. It is the price of the share at any…

Q: Kingbird Corporation had 270,000 shares of common stock outstanding on January 1, 2017. On May 1,…

Q: Talaat Corporation had retained earnings at January 1, 2017, of $950,000. the Corporation had…

A: Journal in the book of original entry in which all the financial transactions of the business are…

Q: Lerner Company had the following transactions in 2017, its first year of operations: Issued 20,000…

A: The following computations are done for Lerner Company.

Q: Crystal Arts, Inc., had earnings of $291,600 for 2016. The company had 30,000 shares of common stock…

A: Earning per share serves as an indicator of a company's profitability. And calculates as a company's…

Q: Metlock Corporation had 2017 net income of $1,001,000. During 2017, Metlock paid a dividend of $2…

A: Earnings per share refer to the amount earned by each stockholder. This can be identified by…

Concept explainers

Stock Yields

The stock yield is otherwise known as the dividend yield. The dividend yield is an annual payment of the stock dividends to the holder of a firm’s stock. The dividend yield is a financial ratio to measure the value of dividend payout every year for the relative stock price. The yield of a stock is usually shown in a percentage that discloses the expected future earnings from stock depending on the current stock price in the future. Stock yield will change depending on the market fluctuations and in accordance with the market fluctuations, the dividends will be increased or decreased by the firm.

Question

In 2017 Pedroni Corporation reported net income of $1,000,000. It declared and paid preferred stock a dividend of $250,000. During
2017, Pedroni had a weighted average of 190,000 shares outstanding. Compute Pedroni's Earnings Per Share.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

The previous year's balance sheet for Brown's Produce showed total common equity of $4,050,000 and 180,000 shares of stock outstanding. During the year, the firm had $450,000 of net income, and it paid out $100,000 as dividends. What was the book value per share at the end of the year, assuming no common stock was either issued or retired during 2016? Your answer should be between 16.42 and 37.15, rounded to 2 decimal places, with no special characters.
Choctaw Co. completed the following transactions in 2016, the first year of operation: 1. Issued 33,000 shares of $10 par common stock for $10 per share. 2. Issued 4,300 shares of $20 stated value preferred stock for $20 per share. 3. Purchased 2,300 shares of common stock as treasury stock for $12 per share. 4. Declared a $3,300 cash dividend on preferred stock. 5. Sold 1,000 shares of treasury stock for $14 per share. 6. Paid $3,300 cash for the preferred dividend declared in Event 4. 7. Earned cash revenues of $104,000 and incurred cash expenses of $54,000. 8. Closed revenue, expense, and dividend accounts to the retained earnings account. 9. Appropriated $9,300 of retained earnings.
The equity section of Atticus Group’s 2017 year-end balance sheet had 200,000 shares of $4 par value common stock authorized. Of this amount, 40,000 shares were issued and outstanding in one offering in which the stock was sold at $7 per share. Retained earnings had a balance of $320,000. The following transactions and events occurred in 2018. Jan. 5 Declared a $0.50 per share cash dividend, date of record January 10, to be paid February 10. Mar. 20 Purchased 3,000 shares of treasury stock for $10 per share. Apr. 5 Declared a 20% stock dividend when the stock’s market value was $12 per share. The dividend is to be distributed on April 30 to stockholders of record on April 10. Jul. 5 Declared a $0.25 per share cash dividend, date of record July 10, to be paid August 10. Aug. 14 Issued 4,000 shares at $15 per share. Oct. 5 Declared and distributed a 2-for-1 stock split. Dec. 31 Atticus recorded net income of $248,000 in 2018. 1.What is total paid-in capital one…
Marutzky Corporation had a net income of $2,200,000 for the year 2018. On January 1, 2018, the corporation had 300,000 shares of common stock outstanding and issued an additional 250,000 shares of common stock on October 1, 2018. Calculate the earnings per shares using the weighted-average number of common shares outstanding.
FV Company earned net income of $75,000 during the year ended December 31, 2012. On December 15, FV declared the annual cash dividend on its 5% preferred stock (par value, $115,000) and a $0.50 per share cash dividend on its common stock (55,000 shares). FV then paid the dividends on January 4, 2013. Journalize for FV: Declaring the cash dividends on December 15, 2012. Paying the cash dividends on January 4, 2013.
Check my work The annual report for Mega Mills disclosed that 1 billion shares of common stock have been authorized. At the beginning of 2017, 785 million shares had been issued and the number of shares in treasury stock was 96 million. During 2017, the only common share transactions were that 19 million common shares were reissued from treasury and 25 million common shares were purchased and held as treasury stock. Required: Determine the number of common shares (a) issued, (b) in treasury, and (c) outstanding at the end of 2017. (Enter your answers in millions.) Number of Common Shares (in millions) |(a) Issued Stock |(b) Treasury Stock |(c) Shares Outstanding
Talaat Corporation had retained earnings at January 1, 2017, of $950,000. the Corporation had 500,000 shares of $ 2.5 par value common stock outstanding throughout 2017. Net income for 2017 was $520,000. The following transactions occurred during 2017: July 1 A cash dividends of $0.5 per share was declared to stockholders of record on July 20. Aug. 1 Paid the cash dividends. Nov. 1 A 7% stock dividends was declared. The market price at the declaration date was $9 per share. Dec. 15 Distributed the stock dividends shares.2-Prepare a retained earnings statement for 2017.
At the beginning of 2017, Vincia Hill Industries had 25,000 shares of common stock issued and outstanding and 500 $1,000, 6% bonds, each convertible into 10 shares of common stock. During 2017, Vincia Hill had revenues of $160,000 and expenses other than interest and taxes of $100,000. Assume that the tax rate is 35%. None of the bonds was converted or redeemed. 1. Compute diluted earnings per share for 2017