On January 1, 2022, Wentworth, Inc. had the following shares of stock outstanding: 100,000 shares of common stock 60,000 shares of preferred stock, convertible to 32,000 shares of common ($120,000 in preferred dividends paid during the year) On May 1, 2022, an additional 18,000 common shares were issued for cash. On June 30, 2022, Wentworth issued a 10 percent common stock dividend. Net income after taxes for the year was $775,000. Calculate basic earnings per share (to the nearest cent) for the year A. $5.46 B. $5.32 C. $5.05 D. Some other amount.
On January 1, 2022, Wentworth, Inc. had the following shares of stock outstanding: 100,000 shares of common stock 60,000 shares of preferred stock, convertible to 32,000 shares of common ($120,000 in preferred dividends paid during the year) On May 1, 2022, an additional 18,000 common shares were issued for cash. On June 30, 2022, Wentworth issued a 10 percent common stock dividend. Net income after taxes for the year was $775,000. Calculate basic earnings per share (to the nearest cent) for the year A. $5.46 B. $5.32 C. $5.05 D. Some other amount.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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On January 1, 2022, Wentworth, Inc. had the following shares of stock outstanding: 100,000 shares of common stock 60,000 shares of
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