### Marin Inc. Financial DataMarin Inc. presented the following financial data:- **Net income:** $2,540,000- **Preferred stock:** 54,000 shares outstanding, $100 par, 8% cumulative, not convertible: $5,400,000- **Common stock:** - Shares outstanding as of January 1: 718,800 - Issued for cash on May 1: 328,800 - Acquired treasury stock for cash on August 1: 165,600 - 2-for-1 stock split on October 1### Computation of Earnings per Share (EPS)Instructions for computation:- **Round the answer to 2 decimal places (e.g., $2.55).****Earnings per share:**```plaintext$```*Note: The EPS calculation involves taking the net income, subtracting any preferred dividends, and dividing the result by the weighted average number of common shares outstanding. Be sure to adjust for the stock split and the issuance and acquisition of shares throughout the year.*

The earnings per share is calculated as total income divided by number of outstanding shares.

Marin Inc. presented the following data. Net income $2,540,000 Preferred stock: 54,000 shares outstanding. $100 par, 8% cumulative, not convertible 5,400,000 Common stock: Shares outstanding 1/1 718,800 Issued for cash, 5/1 328,800 Acquired treasury stock for cash, 8/1 165,600 2-for-1 stock split, 10/1 compute earnings per share. (Round answer to 2 decimal places, e,g. $2.55.) Earnings per share

Marin Inc. presented the following data. Net income $2,540,000 Preferred stock: 54,000 shares outstanding. $100 par, 8% cumulative, not convertible 5,400,000 Common stock: Shares outstanding 1/1 718,800 Issued for cash, 5/1 328,800 Acquired treasury stock for cash, 8/1 165,600 2-for-1 stock split, 10/1 compute earnings per share. (Round answer to 2 decimal places, e,g. $2.55.) 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

Similar questions

The following information was drawn from the accounting records of Silverburg Company. (Round your answer to 2 decimal places.) Net income Preferred stock outstanding, 15% cumulative Market price per share of common stock 2$ 216,000 $ 56,000 Common Stock outstanding 15 $1,320,000 Average number of common shares outstanding Number of common shares outstanding at end of the accounting period 116,000 shares 136,000 shares Dividends per share on common stock 1.30 per share Based on this information, the company's earnings per share is Multiple Choice The answer cannot be determined from the information provided. $1.79 8 9 Score answer > < Prev of 9 MacBook Air DII 888 F7 F5 F4 F3 & % # $ 8 @ 4 5 3 Y E R Q W G H J K A S M. V B C
Barbur, Incorporated reported net income of $12.5625 million. During the year the average number of common shares outstanding was 3.35 million. The price of a share of common stock at the end of the year was $5. There were 540,000 shares of preferred stock outstanding on average and no dividends were declared and the preferred stock is noncumulative. The EPS is: Multiple Choice O C O $0.27. $3.51. $3.61. $3.75.
Windborn Company has 30,000 shares of cumulative preferred 3% stock, $100 par and 50,000 shares of $20 par common stock. The following amounts were distributed as dividends: 20Y1 $135,000 20Y2 72,000 20Y3 270,000 Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter '0'. Preferred Stock(dividends per share) Common Stock(dividends per share) 20Y1 $ $ 20Y2 $ $ 20Y3
Subject: accounting
What is the diluted earnings per share?(Present answer in 2 decimal places, example: x.xx)
s
h
Sandpiper Company has 20,000 shares of cumulative preferred 3% stock, $50 par and 50,000 shares of $15 par common stock. The following amounts were distributed as dividends: 20Y1 $60,000 20Y2 24,000 20Y3 90,000 Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter '0'. Preferred Stock(dividends per share) Common Stock(dividends per share) 20Y1 fill in the blank fill in the blank 20Y2 fill in the blank fill in the blank 20Y3 fill in the blank fill in the blank
Share Issuances for Cash Finlay, Inc., issued 4,000 shares of $50 par value preferred stock at $119 per share and 6,000 sharesof no-par value common stock at $18 per share. The common stock has no stated value. All issuances were for cash. a. Determine the financial statement effect of the share issuances (preferred and common). Balance Sheet Income Statement Assets = Liabilities + Equity Revenues - Expenses = Net Income Answer Answer Answer Answer Answer Answer b. Determine the financial statement effect of the issuance of the common stock assuming that it had a stated value of $5 per share. Balance Sheet Income Statement Assets = Liabilities + Equity Revenues - Expenses = Net Income Answer Answer Answer Answer Answer Answer c. Determine the financial statement effect of the issuance of the common stock assuming that it had a par value of…
Splish Inc. presented the following data. Net income $2,700,000Preferred stock: 48,000 shares outstanding, $100 par, 8% cumulative, not convertible 4,800,000Common stock: Shares outstanding 1/1 781,200Issued for cash, 5/1 278,400Acquired treasury stock for cash, 8/1 153,6002-for-1 stock split, 10/1 Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.)
Skysong Inc. presented the following data. Net income Preferred stock:52,000shares outstanding, $100 par, 8% cumulative, not convertible Common stock: Shares outstanding 1/1 Issued for cash, 5/1 Acquired treasury stock for cash, 8/1 2-for-1 stock split, 10/1 Compute earnings per share.(Round answer to 2 decimal places, e.g. $2.55.) Earnings per share $ $2,470,000 5,200,000 736,800 315,600 134,400
Financial statement data for the years ended December 31 for Cottontop Corporation follow: 20Y3 20Y2 Net income $957,250 $832,250 Preferred dividends $146,000 $146,000 Average number of common shares outstanding 55,000 shares 45,000 shares a. Determine the earnings per share for 20Y3 and 20Y2. Round your answers to two decimal places. 20Y3 $fill in the blank 1 per share 20Y2 $fill in the blank 2 per share b. Does the change in the earnings per share from 20Y2 to 20Y3 indicate a favorable or unfavorable trend?Unfavorable