Sage presented the following data.Net income $5,912,000Bonds: 10%, $689,000 par value 678,200Preferred stock: 95,000 shares outstanding, $100 par, 8% cumulative, not convertible 9,500,000Common stock: Shares outstanding 1/1 495,000 Issued for cash, 4/1 853,000 Issued 40% stock dividend, 10/1 Compute earnings per share. (Round answer to 2 decimal places, e.g. 2.55.)Earnings per share $enter earnings per share in dollars rounded to 2 decimal places

Solution: Date Outstanding Shares Oustanding (A) Restatement (B) Fraction of Year © Weighted…

Answered: Sage presented the following data. Net…

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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Sage presented the following data.

Net income		$5,912,000
Bonds: 10%, $689,000 par value		678,200
Preferred stock: 95,000 shares outstanding, $100 par, 8% cumulative, not convertible		9,500,000
Common stock: Shares outstanding 1/1		495,000
Issued for cash, 4/1		853,000
Issued 40% stock dividend, 10/1

Compute earnings per share. (Round answer to 2 decimal places, e.g. 2.55.)

Earnings per share

$enter earnings per share in dollars rounded to 2 decimal places

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