Sandhill, Inc. reports net income of $737800. It declares and pays dividends of $85000 for the year, one-half of which relate to thepreferred shares. The weighted-average number of common shares outstanding during the year is 170000 shares, and the weighted-average number of preferred shares outstanding during the year is 8500 shares. Earnings per share for Sandhill, Inc. is:

Earnings Per Share (EPS) is a financial metric that indicates the portion of a company's profit…

Answered: Sandhill, Inc. reports net income of…

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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Ridgetown Corporation started the year with 50,000 common shares outstanding. On April 1st, Ridgetown reacquired 5,000 of its own common shares. On July 1st, 10,000 common shares were issued. What will Ridgetown use in the denominator for its earnings per share calculation?
During its first year of operations, Vader Corp. issued 15,000 shares of its $1 par common stock for $65,000. In June, Vader issued an additional 5,000 shares of the same $1 par common stock for $8.25 each. During September, Vader repurchased 2,500 shares for $25,000; this left Vader with 17,500 shares outstanding. What is the balance in the Common Stock account as of December 31st? $81.250 O $106,250 O $17,500 O $20,000 O None of the above.
The annual report for Sneer Corporation disclosed that the company declared and paid preferred dividends in the amount of $170,000 in the current year. It also declared and paid dividends on common stock in the amount of $2.70 per share. During the current year, Sneer had 1 million common shares authorized; 370,000 shares had been issued; and 163,000 shares were in treasury stock. The opening balance in Retained Earnings was $870,000 and Net Income for the current year was $370,000. Required: 1. Prepare journal entries to record the declaration, and payment, of dividends on (a) preferred and (b) common stock. 2. Using the information given above, prepare a statement of retained earnings for the year ended December 31. 3. Prepare a journal entry to close the dividends account.
During a recent year, Emerson Electric paid an annual dividend of $0.64 per share. Calculate the dividends (in dollars) paid to a shareholder who has 650 shares of Emerson Electric stock.
Alcantara Corporation had the following information in its financial statements for the years ended 2010 and 2011:Cash dividends for the year 2011 $ 8,000Net income for the year ended 2011 93,000Market price of shares, 12/31/10 10Market price of shares, 12/31/11 12Ordinary shareholders' equity, 12/31/10 1,600,000Ordinary shareholders' equity, 12/31/11 1,800,000Outstanding shares, 12/31/11 150,000Preference dividends for the year ended 2011 15,000a. What is the payout ratio for Alcantara Corporation for the year ended 2011?b. What is the book value per share for Alcantara Corporation for the year ended 2011?
Lightfoot Inc., a software development firm, has stock outstanding as follows: 10,000 shares of cumulative preferred 3% stock, $25 par, and 13,000 shares of $125 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $2,900; second year, $4,700; third year, $24,390; fourth year, $39,740. Determine the dividends per share on each class of stock for each of the four years. Round all answers to two decimal places. If no dividends are paid in a given year, enter "0".
CorpCo gathered the following information as of the end of the current fiscal year: Dividends on common stock Market price per share of common stock Shares of common stock outstanding Dividends on preferred stock Shares of preferred stock outstanding Earnings per share on common stock Dividends per share of common stock Net income $125,000 $115.00 5,000 $65,000 600 $102.00 $25.00 $575,000 What is CorpCo's dividend yield? Enter your answer as a percent, rounded to one decimal place. 96
The net income reported on the income statement of Cutler Co. was $4,000,000. There were 500,000 shares of $10 par common stock and 100,000 shares of $2 preferred stock outstanding throughout the current year. The income statement included a gain on discontinued operations of $400,000 after applicable income tax. a. Determine the per- share figure for common stock income before discontinue operation. round your answer to the nearest whole cent. $ Per share B. Determine the per- share figure got common stock for net income. Round your answe to the nearest whole cent $ Per share
A recent annual report for Malestrom Incorporated disclosed that the company declared and paid dividends on common stock in the amount of $1.80 per share. During the year, Malestrom had 1,017,000,000 authorized shares of common stock and 191,370,000 issued shares. There is no treasury stock. Required: Assume Malestrom declared the entire dividend ($1.80 per share) on February 20 and subsequently paid the dividend on March 1. Prepare the journal entries to record the declaration and payment of dividends. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars not in millions (i.e., 1,000,000 not 1.0). View transaction list Journal entry worksheet
The annual report for Sneer Corporation disclosed that the company declared and paid preferred dividends in the amount of $300,000 in the current year. It also declared and paid dividends on common stock in the amount of $1.00 per share. During the current year, Sneer had 1 million common shares authorized; 500,000 shares had been issued; and 280,000 shares were in treasury stock. The opening balance in Retained Earnings was $700,000 and Net Income for the current year was $200,000. Required: 1. Prepare journal entries to record the declaration, and payment, of dividends on (a) preferred and (b) common stock. 2. Using the information given above, prepare a statement of retained earnings for the year ended December 31. 3. Prepare a journal entry to close the dividends account.
During Year 3, Thornton Corporation reported after-tax net income of $3,635,000. During the year, the number of shares of stock outstanding remained constant at 9,520 of $100 par, 8 percent preferred stock and 395,000 shares of common stock. The company’s total stockholders’ equity is $20,000,000 at December 31, Year 3. Thornton Corporation’s common stock was selling at $54 per share at the end of its fiscal year. All dividends for the year have been paid, including $4.60 per share to common stockholders. Requireda. Compute the earnings per share. (Round your answer to 2 decimal places.)b. Compute the book value per share of common stock. (Round your answer to 2 decimal places.)c. Compute the price-earnings ratio. (Round intermediate calculations and final answer to 2 decimal places.)d. Compute the dividend yield. (Round your percentage answer to 2 decimal places. (i.e., 0.2345 should be entered as 23.45).)
Whispering Inc. had net income for the current year ending December 31, 2023 of $1,063,260. During the entire year, there were 501,000 common shares outstanding. The company had two classes of preferred shares outstanding: the Class A preferred shares were $2.60 cumulative shares of which 12,000 were outstanding, and were convertible to common shares at a rate of 1:1. There were 107,000 $5.60 Class B non-cumulative preferred shares outstanding that were also convertible at a rate of 1:1. Whispering had outstanding a $1,000,000, 7% bond issued at par in 2012 that was convertible to 22,000 common shares. The company also had outstanding a $1,000,000, 6% bond issued at par in 2013 that was convertible to 26,000 common shares. No dividends were declared or paid this year. Whispering's tax rate is 37%. (a) Calculate the income effect of the dividends for the Class A preferred shares. (b) Your answer is correct. Dividends on Class A preferred shares $ (c) eTextbook and Media Your answer is…

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