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%. 125,000 36,000 Required: Compute Stanley's basic and diluted earnings per share for the year ended December 31, 2021. (Enter your answers in thousands. Do

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%. 125,000 36,000 Required: Compute Stanley's basic and diluted earnings per share for the year ended December 31, 2021. (Enter your answers in thousands. Do

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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