Abel Company provided the following information from its financial recordsNet incomeCommon stock dividendsPreferred stock dividendsSalesWhat is the amount of the company's earnings per share?Multiple Choice1082$$ 250,000 Common shares outstanding 1/120,000 Common shares outstanding 12/31$ 25,000 Preferred shares outstanding 1/1Preferred shares outstanding 12/31$1,000,000$0.75200,000300,00010,0006,000

The earnings per share is calculated as net income available to common shareholders divided by…

Answered: Abel Company provided the following…

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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Earnings per share Financial statement data for the years 20Y5 and 20Y6 for Black Bull Inc. follow: 20Y5 20Y6 Net income $1,715,000 $2,437,000 Preferred dividends $50,000 $50,000 Average number of common shares outstanding 90,000 shares 110,000 shares a. Determine the earnings per share for 20Y5 and 20Y6. Round to two decimal places. 20Y5 20Y6 Earnings per Share $fill in the blank 1 $fill in the blank 2 b. Is the change in the earnings per share from 20Y5 to 20Y6 favorable or unfavorable?
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Analyzing EPS through Financial Statement Presentation Sundry Inc. reported the following information in its consolidated statement of earnings for the fiscal year ended January 31. Required a. Estimate the average number of common shares outstanding for its fiscal year ended January 31. Note: Round your answer to the nearest whole share (in millions). ✓ million shares. b. Does the company have a simple or a complex capital structure? ✓ capital structure. c. If diluted weighted-average common shares were 1,547 million, recompute diluted EPS. d. Based on part c, what type(s) of dilutive securities would we assume the company reported in its financial statements? Stock plans Convertible securities
Earnings per share Financial statement data for the years 20Y5 and 20Y6 for Black Bull Inc. follow: 20Y5 20Y6 Net income $1,761,000 $2,555,500 Preferred dividends $60,000 $60,000 Average number of common shares outstanding 90,000 shares 115,000 shares a. Determine the earnings per share for 20Y5 and 20Y6. Round to two decimal places. 20Y5 20Υ6 Earnings per Share $ b. Is the change in the earnings per share from 20Y5 to 20Y6 favorable or unfavorable?
Mayan Company had net income of $132,000. The weighted-average common shares outstanding were 80,000. The company has preferred stock. The company's basic earnings per share is: Multiple Choice $44.00. $26.67 $1.59. $1.71. $1.65.
Rendivir Company had the following transactions during the year: January 1 Ordinary shares outstanding 200,000 March 1 Isued a 20% share dividend 30,000 May 1 Issued ordinary shares 40,000 September 1 Treasury shares purchased 10,000 November 1 Issued 3 for 1 share split What is the weighted average number of shares outstanding?
Earnings per share Financial statement data for the years 20Y5 and 20Y6 for Black Bull Inc. follow: 20Y5 20Y6 Net income $1,516,000 $2,425,000 Preferred dividends $60,000 $60,000 Average number of common shares outstanding 80,000 shares 110,000 shares a. Determine the earnings per share for 20Y5 and 20Y6. Round to two decimal places.
Earnings per share Financial statement data for the years 20Y5 and 20Y6 for Black Bull Inc. follow: 20Y5 20Y6 Net income $1,761,000 $2,532,500 Preferred dividends $60,000 $60,000 Average number of common shares outstanding 90,000 shares 115,000 shares a. Determine the earnings per share for 20Y5 and 20Y6. Round to two decimal places. 20Y5 20Y6 Earnings per Share $fill in the blank 1 $fill in the blank 2 b. Is the change in the earnings per share from 20Y5 to 20Y6 favorable or unfavorable? fill in the blank
Identifying and Analyzing Financial Statement Effects of Stock Transactions (FSET) Lipe Company reports the following transactions relating to its stock accounts. Feb. 20 Issued 16,800 shares of $1 par value common stock at $25 cash per share. Feb. 21 Issued 25,200 shares of $100 par value, 8% preferred stock at $250 cash per share.. Jun. 30 Purchased 3,360 shares of its own common stock at $15 cash per share. Sep. 25 Sold 1,680 shares of the treasury stock at $21 cash per share. Using the financial statement effects template, illustrate the effects of these transactions. NOTE: Use negative signs with your answers, when appropriate. NOTE: Select "N/A" as your answer if a part of the accounting equation is not affected. Transaction Issuance of common stock. Issuance of preferred stock. Purchase of treasury stock. Sale of treasury stock. Check Cash Cash Cash Cash Cash Asset 420,000 + ✓N/A 6,300,000 ✓ # ✓N/A (50,400)✓ 35,280 + ✓ ✔ N/A Noncash Assets 0 + 0✔ + 0✔ + = ✔ N/A N/A Liabilities…
Financial statement data for the years ended December 31 for Cottontop Corporation follow: 20Y3 20Y2 Net income $957,250 $832,250 Preferred dividends $146,000 $146,000 Average number of common shares outstanding 55,000 shares 45,000 shares a. Determine the earnings per share for 20Y3 and 20Y2. Round your answers to two decimal places. 20Y3 $fill in the blank 1 per share 20Y2 $fill in the blank 2 per share b. Does the change in the earnings per share from 20Y2 to 20Y3 indicate a favorable or unfavorable trend?Unfavorable
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