Swifty Inc. presented the following data. Net income Preferred stock: 52,000 shares outstanding, $100 par, 8% cumulative, not convertible Common stock: Shares outstanding 1/1 Issued for cash, 5/1 Acquired treasury stock for cash, 8/1 2-for-1 stock split, 10/1 Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share $ $2,410,000 5,200,000 729,600 296,400 152,400
Swifty Inc. presented the following data. Net income Preferred stock: 52,000 shares outstanding, $100 par, 8% cumulative, not convertible Common stock: Shares outstanding 1/1 Issued for cash, 5/1 Acquired treasury stock for cash, 8/1 2-for-1 stock split, 10/1 Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share $ $2,410,000 5,200,000 729,600 296,400 152,400
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
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Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 55E: Rebert Inc. showed the following balances for last year: Reberts net income for last year was...
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![Swifty Inc. presented the following data.
Net income
Preferred stock: 52,000 shares outstanding, $100 par, 8% cumulative, not convertible
Common stock: Shares outstanding 1/1
Issued for cash, 5/1
Acquired treasury stock for cash, 8/1
2-for-1 stock split, 10/1
Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.)
Earnings per share $
$2,410,000
5,200,000
729,600
296,400
152,400](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2d5fb871-3402-4837-b130-c544d601a10a%2F26713b99-0355-4901-8dc1-81bb76dc97c9%2F5gyq80d_processed.png&w=3840&q=75)
Transcribed Image Text:Swifty Inc. presented the following data.
Net income
Preferred stock: 52,000 shares outstanding, $100 par, 8% cumulative, not convertible
Common stock: Shares outstanding 1/1
Issued for cash, 5/1
Acquired treasury stock for cash, 8/1
2-for-1 stock split, 10/1
Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.)
Earnings per share $
$2,410,000
5,200,000
729,600
296,400
152,400
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