At December 31, 2015, Albrecht Corporation had outstanding 373,000 shares of common stock and 8,000 shares of 9.5%, $100 par value cumulative, nonconvertible preferred stock. On May 31, 2016, Albrecht sold for cash 12,000 shares of its common stock. No cash dividends were declared for 2016. For the year ended December 31, 2016, Albrecht reported a net loss of $114,000. Required: Calculate Albrecht’s net loss per share for the year ended December 31, 2016.
At December 31, 2015, Albrecht Corporation had outstanding 373,000 shares of common stock and 8,000 shares of 9.5%, $100 par value cumulative, nonconvertible preferred stock. On May 31, 2016, Albrecht sold for cash 12,000 shares of its common stock. No cash dividends were declared for 2016. For the year ended December 31, 2016, Albrecht reported a net loss of $114,000. Required: Calculate Albrecht’s net loss per share for the year ended December 31, 2016.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
At December 31, 2015, Albrecht Corporation had outstanding 373,000 shares of common stock and 8,000 shares
of 9.5%, $100 par value cumulative, nonconvertible
12,000 shares of its common stock. No cash dividends were declared for 2016. For the year ended December 31,
2016, Albrecht reported a net loss of $114,000.
Required:
Calculate Albrecht’s net loss per share for the year ended December 31, 2016.
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