please answer in detail describe each and every point and step with full explantion , computation , formulation so that I can understand easily thanks no copy paste from other answer with full working answer in text Pagle Corporation holds 80 percent of Standard Company's common shares. The companies report the following balance sheet datafor December 31, 20X1:AssetsCashAccounts ReceivableInventoryBuildings and EquipmentLess: Accumulated DepreciationInvestment in Standard Company StockTotal AssetsLiabilities and Owners' EquityAccounts PayableTaxes PayablePreferred stock ($10 par value))Common Stock:$10 par value$5 par valueRetained EarningsTotal Liabilities and Owners' EquityPagleCorporation$ 55,00085,000126,000730,000(285,000)160,000$ 871,000$ 185,00076,000200,000100,000310,000$ 871,000StandardCompanyRequired:Compute basic and diluted EPS for the consolidated entity for 20X1.Maka Dacied$ 45,00065,00076,000310,000(135,000)$361,000$ 61,000100,00050,000150,000$361,000An 8 percent annual dividend is paid on the Pagle preferred stock and a 12 percent dividend is paid on the Standard preferred stock.Pagle's preferred shares are not convertible. Standard's preferred shares can be converted into 15,000 shares of common stock at anytime. For 20X1, Standard reports $49,000 of net income and pays total dividends of $20,000, and Pagle reports $63,000 of incomefrom its separate operations and pays total dividends of $43,000 Investment in Standard Company StockTotal AssetsLiabilities and Owners' EquityAccounts PayableTaxes PayablePreferred Stock ($10 par value);Common Stock:$10 par value$5 par valueRetained EarningsTotal Liabilities and Owners' Equity160,000$ 871,000$ 185,00076,000200,000Basic earnings per shareDiluted earnings per share100,000$ 361,000$ 61,000100,00050,000310,000150,000$ 871,000 $ 361,000An 8 percent annual dividend is paid on the Pagle preferred stock and a 12 percent dividend is paid on the Standard preferred stock.Pagle's preferred shares are not convertible. Standard's preferred shares can be converted into 15,000 shares of common stock at anytime. For 20X1, Standard reports $49,000 of net income and pays total dividends of $20,000, and Pagle reports $63,000 of incomefrom its separate operations and pays total dividends of $43,000.Required:Compute basic and diluted EPS for the consolidated entity for 20X1.Note: Round your answers to 2 decimal places....

It represents the portion of a company's profit allocated to each outstanding share of common stock.…

Pagle Corporation holds 80 percent of Standard Company's common shares. The companies report the following balance sheet data for December 31, 20x1: Assets Cash Accounts Receivable Inventory Buildings and Equipment Less: Accumulated Depreciation Investment in Standard Company Stock Total Assets Liabilities and Owners' Equity Accounts Payable Taxes Payable Preferred Stock ($10 par value) Common Stock: $10 par value $5 par value Retained Earnings Total Liabilities and Owners' Equity Pagle Corporation. $ 55,000 85,000 126,000 730,000 (285,000) 160,000 $ 871,000 $ 185,000 76,000 200,000 100,000 310,000 $ 871,000 Standard Company $ 45,000 65,000 76,000 310,000 (135,000) $361,000 $ 61,000 100,000 50,000 150,000 $361,000

Pagle Corporation holds 80 percent of Standard Company's common shares. The companies report the following balance sheet data for December 31, 20x1: Assets Cash Accounts Receivable Inventory Buildings and Equipment Less: Accumulated Depreciation Investment in Standard Company Stock Total Assets Liabilities and Owners' Equity Accounts Payable Taxes Payable Preferred Stock ($10 par value) Common Stock: $10 par value $5 par value Retained Earnings Total Liabilities and Owners' Equity Pagle Corporation. $ 55,000 85,000 126,000 730,000 (285,000) 160,000 $ 871,000 $ 185,000 76,000 200,000 100,000 310,000 $ 871,000 Standard Company $ 45,000 65,000 76,000 310,000 (135,000) $361,000 $ 61,000 100,000 50,000 150,000 $361,000

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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