During the year ended December 31, 2020, Gluco Inc. split its stock on a 5-for-1 basis. In its annual report for 2019, the firm reported net income of $941,200 for 2019, with an average 211,000 shares of common stock outstanding for that year. There was no preferred stock. Required: What amount of net income for 2019 will be reported in Gluco's 2020 annual report? Calculate Gluco's earnings per share for 2019 that would have been reported in the 2019 annual report. (Round your answer to 2 decimal places.) Calculate Gluco's earnings per share for 2019 that will be reported in the 2020 annual report for comparative purposes. (Round your answer to 2 decimal places.)

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Oriole, Inc. had the following equity investment portfolio at January 1, 2020. Evers Company   970 shares @ $14 each   $13,580   Rogers Company   910 shares @ $18 each   16,380   Chance Company   500 shares @ $9 each   4,500   Equity investments @ cost       34,460   Fair value adjustment       (7,840 ) Equity investments @ fair value       $26,620   During 2020, the following transactions took place. 1.   On March 1, Rogers Company paid a $2 per share dividend. 2.   On April 30, Oriole, Inc. sold 290 shares of Chance Company for $11 per share. 3.   On May 15, Oriole, Inc. purchased 90 more shares of Evers Company stock at $17 per share. 4.   At December 31, 2020, the stocks had the following price per share values: Evers $18, Rogers $17, and Chance $8. During 2021, the following transactions took place. 5.   On February 1, Oriole, Inc. sold the remaining Chance shares for $8 per share. 6.   On March 1, Rogers Company paid a $2 per share dividend.…

Ricci Corporation is preparing their financial statements for the year ending September 30, 2021. Ricci Corporation has two categories of stock; Preferred and Common. On September 25, 2021 Ricci Corporation declared dividends on the preferred stock which will be paid on October 18, 2021. In order to calculate EPS the staff accountant had the following information: 2021 Net Income: $4,000,000 Preferred Dividends Declared in September 25, 2021 $ 500,000 but not paid until October 18, 2021 Weighted Average Number of Common Shares Outstanding 125,000 shares The staff accountant has determined that since the preferred dividends were not paid prior to September 30, 2021 the preferred dividend should not be included in the 2021 EPS. Accounting Issue: In the calculation for EPS should Ricci Corporation include the preferred dividends not paid prior to September 30, 2021? Your Interpretation of the Guidance: Should Ricci Corporation include the preferred dividends in the calculation of EPS…

Oriole, Inc. had the following equity investment portfolio at January 1, 2020. Evers Company   960 shares @ $ 14 each   $ 13,440   Rogers Company   880 shares @ $ 20 each   17,600   Chance Company   520 shares @ $ 10 each   5,200   Equity investments @ cost       36,240   Fair value adjustment       ( 7,300 ) Equity investments @ fair value       $ 28,940   During 2020, the following transactions took place. 1.   On March 1, Rogers Company paid a $ 2 per share dividend. 2.   On April 30, Oriole, Inc. sold  320 shares of Chance Company for $ 11 per share. 3.   On May 15, Oriole, Inc. purchased  100 more shares of Evers Company stock at $ 17 per share. 4.   At December 31, 2020, the stocks had the following price per share values: Evers $ 18, Rogers $ 19, and Chance $ 9. During 2021, the following transactions took place. 5.   On February 1, Oriole, Inc. sold the remaining Chance shares for $ 9 per share. 6.   On March 1, Rogers Company paid a $ 2…