Sandhill Corporation had 92,000 common shares outstanding on December 31, 2022. During 2023,the company issued 11,000 shares on March 1, retired 4,200 shares on July 1, issued a 20% stockdividend on October 1, and issued 16,500 shares on December 1. For 2023, the company reportednet income of $368,000 after a loss from discontinued operations of $50,800 (net of tax). Thecompany issued a 2-for-1 stock split on February 1, 2024, and the company's financial statementsfor the year ended December 31, 2023, were issued on February 28, 2024.Calculate earnings per share for 2023 as it should be reported to shareholders. (Round answer to 2decimal places, e.g. 15.75.)Income per share before discontinued operationsDiscontinued operations loss per share, net of taxNet income per shareLALA$Earnings per share

The income before discontinued operations refers to the net income generated by a company from its…

Answered: Sandhill Corporation had 92,000 common…

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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Marigold Corporation had net sales of $2,400,900 and interest revenue of $37,400 during 2020. Expenses for 2020 were cost of goods sold $1,466,300, administrative expenses $221,700, selling expenses $298,700, and interest expense $45,300. Marigold’s tax rate is 30%. The corporation had 100,000 shares of common stock authorized and 74,370 shares issued and outstanding during 2020. Prepare a single-step income statement for the year ended December 31, 2020. (Round earnings per share to 2 decimal places, e.g. 1.48.)
At the beginning of 2021, Hamilton Company had retained earnings of $320,000. During the year Hamilton reported net income of $75,000, sold treasury stock at a "gain" of $27,000, declared a cash dividend of $45,000, and declared and issued a small stock dividend of 1,500 shares ($10 par value) when the fair value of the stock was $30 per share. The amount of retained earnings available for dividends at the end of 2021 was a. $332,000. b. $354,500. c. $327,500. d. $305,000.
Murphy Co. had 60,000 common shares outstanding on January 1, 2020. The company sold an additional 4,500 shares on March 1, issued a 3-for-1 stock split on September 1, and reacquired 3,600 shares on December 1. The company also dedared, but has not paid, a dividend on its 10,000 shares of 5%, $10 par, noncumulative preferred stock. The net loss for the year was $3,190. Required: Compute Murphy Co.'s basic earnings per share for 2020. If required, round your answer to two decimal places.
At December 31, 2017 and 2018, Funk and Noble corporation had outstanding 760 million shares of common stock and 7 million shares of 4%, 100 par value cumulative perferred stock. No dividentds were declared on either the preferred or common stock in 2017 or 2018. Net income for 2018 was 788 million. the income tax rate is 40 percent. Calculate earning per share for the year ended December 31, 2018?
please help me
At the end of this fiscal year, ABC Company's balance sheet showed $5,470,208 of long term debt, $1,000,000 of common stock account, and $2,569,250 of retained earnings. The company had no preferred stock outstanding, and the market value of its long-term debt was the same as its book value. The company had 104,639 shares of common stock with the end-of-year price of $45 per share. How much value (MVA) did ABC Company's management add to stockholders' wealth this year? Round your answer to the nearest dollar, but ignore dollar sign. If your answer has a negative number, add '-' to your answer, e.g., xx,xxx or -xx,xxx. (Hint: MVA = MV of capital - BV of capital) Answer:
Pet Boutique Corp, reported $4,365.410 of profit for 2023. On November 2, 2023, it declared and paid the annual preferred dividends of $283,560 On January 1, 2023, Pet Boutique had 111,410 and 567,000 outstanding preferred and common shares, respectively. The following transactions changed the number of shares outstanding during the year: Feb. 1 Declared and issued a 20% common share dividend. Apr.30 Sold 111,060 common shares for cash. May 1 Sold 45,550 preferred shares for cash. Oct. 31 Sold 32,760 common shares for cash. a. What is the amount of profit available for distribution to the common shareholders? Earnings available to common shareholders $ 4,081,850 Check my wark b. What is the weighted-average number of common shares for the year?
Detroit Inc reported the following ($ in thousands) as of December 31, 2021. All accounts have normal balances. Deficit (debit balance in retained earnings) $ 2,500 Common stock 3,400 Paid-in capital—share repurchase 1,900 Treasury stock (at cost) 220 Paid-in capital—excess of par 30,300 During 2022 ($ in thousands), net income was $9,100; 25% of the treasury stock was resold for $510; cash dividends declared were $700; cash dividends paid were $450. What ($ in thousands) was shareholders' equity as of December 31, 2022?
The 2025 income statement of Sheridan Corporation showed net income of $518,000 and a loss from discontinued operations of $130,000. Sheridan had 100,000 shares of common stock outstanding all year. Prepare Sheridan's income statement presentation of earnings per share. (Round answers to 2 decimal places, e.g. 3.55.) SHERIDAN CORPORATION Income Statement LA
Assume TRI reported income from operations of $2,477,760 (inclusive of a loss from discontinued operations of $391,200) in 2021. It did not declare any common dividends during the year. However it did declare and pay preferred dividends of $600,000 on December 20, 2021. It began the year with 132,000 common shares outstanding and issued 720,000 common shares on April 1. On June 15 a 20% stock dividend was declared and distributed. On November 1, it repurchased 144,000 shares and cancelled them. Determine the company’s basic EPS from continuing operations for the year. Select one: a. $4.76. b. $2.90. c. $3.17. d. $2.84. e. $3.40.
At the beginning of 2021, Sunland Company had retained earnings of $409000. During the year Sunland reported net income of $108000, sold treasury stock at a “gain” of $35000, declared a cash dividend of $61800, and declared and issued a small stock dividend of 3050 shares ($10 par value) when the fair value of the stock was $20 per share. The amount of retained earnings available for dividends at the end of 2021 was?
Crane Inc. a publicly traded company, had 195,000 common shares outstanding on December 31, 2022. During 2023, the company issued 6,000 shares on May 1 and retired 18,000 shares on October 31. For 2023, the company reported net income of $186,200 after a loss from discontinued operations of $35,280 (net of tax). Assume that Crane issued a 3-for-1 stock split on January 31, 2024, and that the company's financial statements for the year ended December 31, 2023, were issued on February 15, 2024. Calculate earnings per share for 2023 as it should be reported to shareholders.

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