Stanley Department Stores reported net income of $881,000 for the year ended December 31, 2021. Additional Information: Common shares outstanding at Jan. 1, 2021 Incentive stock options (vested in 2020) outstanding throughout 2021 (Each option is exercisable for one common share at an exercise price of $26.50) During the year, the market price of Stanley's common stock averaged $31.80 per share. On Aug. 30, Stanley sold 15,000 common shares. Stanley's only debt consisted of $43,000 of 10% short-term bank notes. The company's income tax rate is 25%. Required: Compute Stanley's basic and diluted earnings per share for the year ended December 31, 2021. (Enter your answers in thousands. Do not round intermediate calculations) Basic Diluted Answer is complete but not entirely correct. Earnings per Share 6.78 6.48 Numerator $ 881,000/ $881,000/ Denominator 130,000 136,000 W 125,000 36,000 $ $

Stanley Department Stores reported net income of $881,000 for the year ended December 31, 2021. Additional Information: Common shares outstanding at Jan. 1, 2021 Incentive stock options (vested in 2020) outstanding throughout 2021 (Each option is exercisable for one common share at an exercise price of $26.50) During the year, the market price of Stanley's common stock averaged $31.80 per share. On Aug. 30, Stanley sold 15,000 common shares. Stanley's only debt consisted of $43,000 of 10% short-term bank notes. The company's income tax rate is 25%. Required: Compute Stanley's basic and diluted earnings per share for the year ended December 31, 2021. (Enter your answers in thousands. Do not round intermediate calculations) Basic Diluted Answer is complete but not entirely correct. Earnings per Share 6.78 6.48 Numerator $ 881,000/ $881,000/ Denominator 130,000 136,000 W 125,000 36,000 $ $

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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Company B had net income for the fiscal year ended December 31, 2020 of $5 million. There were 500,000 common shares outstanding throughout 2020. The average market price of the common shares for the entire fiscal year was $50. Company tax rate was 25% for 2020. Company B had the following potential common shares outstanding during 2020: • Options to buy 100,000 common shares at $45 per share. • 100,000 convertible preferred shares entitled to a cumulative dividend of $10 per share. Each preferred share is convertible into 1.5 common shares. • 4% convertible bonds with a principal amount of $30 million, issued at par. Each $1,000 bond is convertible into 25 common shares. For the fiscal year ended December 31, 2020, what is the basic and diluted EPS using IFRS?
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Oriole, Inc. had the following equity investment portfolio at January 1, 2020. Evers Company 970 shares @ $14 each $13,580 Rogers Company 910 shares @ $18 each 16,380 Chance Company 500 shares @ $9 each 4,500 Equity investments @ cost 34,460 Fair value adjustment (7,840 ) Equity investments @ fair value $26,620 During 2020, the following transactions took place. 1. On March 1, Rogers Company paid a $2 per share dividend. 2. On April 30, Oriole, Inc. sold 290 shares of Chance Company for $11 per share. 3. On May 15, Oriole, Inc. purchased 90 more shares of Evers Company stock at $17 per share. 4. At December 31, 2020, the stocks had the following price per share values: Evers $18, Rogers $17, and Chance $8. During 2021, the following transactions took place. 5. On February 1, Oriole, Inc. sold the remaining Chance shares for $8 per share. 6. On March 1, Rogers Company paid a $2 per share dividend.…
Oriole, Inc. had the following equity investment portfolio at January 1, 2020. Evers Company 960 shares @ $ 14 each $ 13,440 Rogers Company 880 shares @ $ 20 each 17,600 Chance Company 520 shares @ $ 10 each 5,200 Equity investments @ cost 36,240 Fair value adjustment ( 7,300 ) Equity investments @ fair value $ 28,940 During 2020, the following transactions took place. 1. On March 1, Rogers Company paid a $ 2 per share dividend. 2. On April 30, Oriole, Inc. sold 320 shares of Chance Company for $ 11 per share. 3. On May 15, Oriole, Inc. purchased 100 more shares of Evers Company stock at $ 17 per share. 4. At December 31, 2020, the stocks had the following price per share values: Evers $ 18, Rogers $ 19, and Chance $ 9. During 2021, the following transactions took place. 5. On February 1, Oriole, Inc. sold the remaining Chance shares for $ 9 per share. 6. On March 1, Rogers Company paid a $ 2…
Stanley Department Stores reported net income of $1,010,000 for the year ended December 31, 2021. Additional Information: Common shares outstanding at Jan. 1, 2021 155,000 Incentive stock options (vested in 2020) outstanding throughout 2021 36,000 (Each option is exercisable for one common share at an exercise price of $29.50) During the year, the market price of Stanley’s common stock averaged $35.40 per share. On Aug. 30, Stanley sold 15,000 common shares. Stanley’s only debt consisted of $49,000 of 10% short-term bank notes. The company’s income tax rate is 25%. Required: Compute Stanley’s basic and diluted earnings per share for the year ended December 31, 2021
i need help with EPS. Thanks.
Pharoah Company’s net income for 2020 is $709,000, and 94,000 shares of common stock were issued and outstanding during 2020. The only potentially dilutive securities outstanding were 28,000 executive stock options issued during 2019, each exercisable for one share at $20.00, none of these have been exercised. The average market price of Pharoah’s stock during 2020 was $25.50.(a) Compute diluted earnings per share.