Sheffield Company's net income for 2025 is $53,200. The only potentially dilutive securities outstanding were 1,000 options issuedduring 2024, each exercisable for one share at $6. None has been exercised, and 10,700 shares of common were outstanding during2025. The average market price of Sheffield's stock during 2025 was $25.a. Compute diluted earnings per share. (Round answer to 2 decimal places, e.g. 2.55.)Diluted earnings per share$b. Assume the same facts as those assumed for part (a), except that the 1,000 options were issued on October 1, 2025 (rather than in2024). The average market price during the last 3 months of 2025 was $25. (Round answer to 2 decimal places, e.g. 2.55.)Diluted earnings per share

Step 1: Use this formula in computing the Diluted earnings per share,Step 2: To answer number 1, the…

Answered: Sheffield Company's net income for 2025…

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 Company's net income for 2020 is $47,100. The only potentially dilutive securities outstanding were 1,000 options issued during 2019, each exercisable for one share at $6. None has been exercised, and 9.700 shares of common were outstanding during 2020. The average market price of Sage's stock during 2020 was $15. (a) Compute diluted earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Diluted earnings per share $ (b) Assume the same facts as those assumed for part (a), except that the 1,000 options were issued on October 1, 2020 (rather than in 2019). The average market price during the last 3 months of 2020 was $15. (Round answer to 2 decimal places, e.g. $2.55.) Diluted earnings per share $
Windsor Company’s net income for 2020 is $51,500. The only potentially dilutive securities outstanding were 900 options issued during 2019, each exercisable for one share at $6. None has been exercised, and 10,700 shares of common were outstanding during 2020. The average market price of Windsor’s stock during 2020 was $18.(a) Compute diluted earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Diluted earnings per share $ (b) Assume the same facts as those assumed for part (a), except that the 900 options were issued on October 1, 2020 (rather than in 2019). The average market price during the last 3 months of 2020 was $18. (Round answer to 2 decimal places, e.g. $2.55.) Diluted earnings per share $
Tamarisk Company's net income for 2025 is $598.000, and 84,000 shares of common stock were issued and outstanding during 2025. The only potentially dilutive securities outstanding were 27,000 executive stock options issued during 2024, each exercisable for one share at $19.00, none of these have been exercised. The average market price of Tamarisk's stock during 2025 was $25. (a) Compute diuted earnings per share. (Round answer to 2 decimal places, eg 2.55) Diluted earnings per share $ (b) Assume the same facts as those assumed for part (a), except that 10.000 additional options were issued on October 1, 2025, with an exercise price of $26 (the market price of the common stock on that date). The average market price during the last 3 months of 2025 was $28.00. (Round answer to 2 decimal places, eg. 2.55) Diluted earnings per share $
Crane Corp's net income for 2023 is $153,920. The only potentially dilutive securities outstanding were 2,400 call options issued during 2022, with each option being exercisable for one share at $24. None have been exercised, and 38,000 common shares were outstanding during 2023. The average market price of the company's shares during 2023 was $30. Your answer is correct. Calculate diluted earnings per share for the year ended December 31, 2023. (Round answer to 2 decimal places, e.g. 15.25.) Diluted earnings per share eTextbook and Media × Your answer is incorrect. $ 4.00 Assuming that the 2,400 call options were instead issued on November 1, 2023 (rather than in 2022), calculate diluted earnings per share for the year ended December 31, 2023. The average market price during the last two months of 2023 was $30. (Round answer to 2 decimal places, e.g. 15.25.) Diluted earnings per share $ 4.00
Indigo Company's net income for 2025 is $641,000, and 79,000 shares of common stock were issued and outstanding during 2025. The only potentially dilutive securities outstanding were 27,000 executive stock options issued during 2024, each exercisable for one share at $19.50; none of these have been exercised. The average market price of Indigo's stock during 2025 was $25. (a) Compute diluted earnings per share. (Round answer to 2 decimal places, e.g. 2.55.) Diluted earnings per share $ (b) Assume the same facts as those assumed for part (a), except that 10,000 additional options were issued on October 1, 2025, with an exercise price of $26 (the market price of the common stock on that date). The average market price during the last 3 months of 2025 was $28.50. (Round answer to 2 decimal places, e.g. 2.55.) Diluted earnings per share $
Tamarisk Corporation reported net income of $398,120 in 2025 and had 206,000 shares of common stock outstanding throughout the year. Also outstanding all year were 34,500 options to purchase common stock at $11 per share. The average market price of the stock during the year was $15. Compute diluted earnings per share. (Round answer to 2 decimal places, e.g. 3.55.) Diluted earnings per share $
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Some recent financlal statements for Smolira Golf, Inc., follow. SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2018 and 2019 2018 2019 2018 2019 Assets Llabilitles and Owners' Equlty Current assets Current liabilitles Cash $ 3,271 $ 3,457 Accounts payable $ 2,138 $ 2,570 5,811 Notes payable Other Accounts recelvable 4,782 12,418 1,735 2,086 Inventory 13,812 87 104 Total $ 20,471 $23.080 Total $ 3,960 $ 4760 $ 13,700 $16,460 Long-term debt Owners' equity Common stock 36,500 and pald-in surplus $36.500 S Accumulated retalned 38,893 Fixed assets 15,639 earnings Net plant and 75,393 $49,328 $73,533 Total $ 52,139 $ equipment Total llabilitles and owners' Total assets $69,799 $ 96,613 $ 69,799 $96,613 equity SMOLIRA GOLF, INC. 2019 Income Statement 186,770 Sales 125,903 Cost of goods sold Depreclation 5,363 EBIT $55,504 1,460 Interest pald Taxable Income $ 54,044 Таxes 18,915 Net Income $ 35,129 $ 11,875 23,254 Dividends Retalned earnings
Venzuela Company's net income for 2020 is $50,000. The only potentially dilutive securities outstanding were 1,000 options issued during 2019, each exercisable for one share at $6. None has been exercised, and 10,000 shares of common were outstanding during 2020. The average market price of Venzuela's stock during 2020 was $20. Instructions a. Compute diluted earnings per share. (Round to nearest cent.) b. Assume the same facts as those assumed for part (a), except that the 1,000 options were issued on October 1, 2020 (rather than in 2019). The average market price during the last 3 months of 2020 was $20.
Current Attempt in Progress. Blossom Corporation reported net income of $436,700 in 2025 and had 187,000 shares of common stock outstanding throughout the year. Also outstanding all year were 34,500 options to purchase common stock at $10 per share. The average market price of the stock during the year was $15. Compute diluted earnings per share. (Round answer to 2 decimal places, e.g. 3.55.) Diluted earnings per share eTextbook and Media Save for Later Attempts: 0 of 10 used Submit Answer
Novak Company’s net income for 2020 is $594,000, and 91,000 shares of common stock were issued and outstanding during 2020. The only potentially dilutive securities outstanding were 26,000 executive stock options issued during 2019, each exercisable for one share at $19.50, none of these have been exercised. The average market price of Novak’s stock during 2020 was $25.00.(a) Compute diluted earnings per share. (Round answer to 2 decimal places, e.g. 2.55.) Diluted earnings per share $enter a dollar amount rounded to 2 decimal places (b) Assume the same facts as those assumed for part (a), except that 10,000 additional options were issued on October 1, 2020, with an exercise price of $26.00 (the market price of the common stock on that date). The average market price during the last 3 months of 2020 was $28.50. (Round answer to 2 decimal places, e.g. 2.55.) Diluted earnings per share $enter the diluted earnings per share in dollar rounded to 2 decimal places
Marin Company’s net income for 2020 is $691,000, and 91,000 shares of common stock were issued and outstanding during 2020. The only potentially dilutive securities outstanding were 23,000 executive stock options issued during 2019, each exercisable for one share at $21.00, none of these have been exercised. The average market price of Marin’s stock during 2020 was $26.50.(a) Compute diluted earnings per share. (Round answer to 2 decimal places, e.g. 2.55.) Diluted earnings per share $enter a dollar amount rounded to 2 decimal places (b) Assume the same facts as those assumed for part (a), except that 10,000 additional options were issued on October 1, 2020, with an exercise price of $27.50 (the market price of the common stock on that date). The average market price during the last 3 months of 2020 was $30.00. (Round answer to 2 decimal places, e.g. 2.55.) Diluted earnings per share $enter the diluted earnings per share in dollar rounded to 2 decimal places

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