Waterway Industries, had 830,000 shares of common stock issued and outstanding at December 31, 2020. On July 1, 2021, an additional 40,000 shares of common stock were issued for cash. Waterway also had unexercised stock options to purchase 32,000 shares of common stock at $15per share outstanding at the beginning and end of 2021. The average market price of Waterway's common stock was $20 during 2021. What is the number of shares that should be used in computing diluted earnings per share for the year ended December 31,2021
Waterway Industries, had 830,000 shares of common stock issued and outstanding at December 31, 2020. On July 1, 2021, an additional 40,000 shares of common stock were issued for cash. Waterway also had unexercised stock options to purchase 32,000 shares of common stock at $15per share outstanding at the beginning and end of 2021. The average market price of Waterway's common stock was $20 during 2021. What is the number of shares that should be used in computing diluted earnings per share for the year ended December 31,2021
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 27E: Percy Company has 15,000 shares of common stock outstanding during all of 2019. It also has 2...
Related questions
Question
Waterway Industries, had 830,000 shares of common stock issued and outstanding at December 31, 2020. On July 1, 2021, an additional 40,000 shares of common stock were issued for cash. Waterway also had unexercised stock options to
purchase 32,000 shares of common stock at $15per share outstanding at the beginning and end of 2021. The average market price of Waterway's common stock was $20 during
2021. What is the number of shares that should be used in computing diluted earnings per share for the year ended December 31,2021
Only typing answer
Please explain step by step without table and graph
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning