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Net income Bonds: 10%, $771,000 par value Preferred stock: 100,000 shares outstanding, $100 par, 8% cumulative, not convertible Common stock: Shares outstanding 1/1 Issued for cash, 4/1 Issued 40% stock dividend 10/11 $5,821,000 757,400 10,000,000 500,000 800,000

Net income Bonds: 10%, $771,000 par value Preferred stock: 100,000 shares outstanding, $100 par, 8% cumulative, not convertible Common stock: Shares outstanding 1/1 Issued for cash, 4/1 Issued 40% stock dividend 10/11 $5,821,000 757,400 10,000,000 500,000 800,000

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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Net income Bonds: 10%, $771,000 par value Preferred stock: 100,000 shares outstanding, $100 par, 8% cumulative, not convertible Common stock: Shares outstanding 1/1 Issued for cash, 4/1 Issued 40% stock dividend, 10/1 $5,821,000 Earnings per share 757,400 10,000,000 500,000 800,000 The Common Stock has a $1 par value. Compute earnings per share. (Round answer to 2 decimal places, e.g. 2.55.)
Transcribed Image Text:Net income Bonds: 10%, $771,000 par value Preferred stock: 100,000 shares outstanding, $100 par, 8% cumulative, not convertible Common stock: Shares outstanding 1/1 Issued for cash, 4/1 Issued 40% stock dividend, 10/1 $5,821,000 Earnings per share 757,400 10,000,000 500,000 800,000 The Common Stock has a $1 par value. Compute earnings per share. (Round answer to 2 decimal places, e.g. 2.55.)
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