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Hardaway Fixtures' balance sheet at December 31, 2023, included the following: Shares issued and outstanding: Common stock, $1 par Nonconvertible preferred stock, $50 par On July 21, 2024, Hardaway issued a 25% stock dividend on its common stock. On December 12, it paid $50,000 cash dividends on the preferred stock. Net income for the year ended December 31, 2024, was $2,000,000. Required: Compute Hardaway's earnings per share for the year ended December 31, 2024. Note: Do not round intermediate calculations. Enter your answers in thousands (i.e., 10,000 should be entered as 10). Numerator $1,950,000. $ 800,000 20,000 Denominator 1,000,000 Earnings per Share 1.95

Hardaway Fixtures' balance sheet at December 31, 2023, included the following: Shares issued and outstanding: Common stock, $1 par Nonconvertible preferred stock, $50 par On July 21, 2024, Hardaway issued a 25% stock dividend on its common stock. On December 12, it paid $50,000 cash dividends on the preferred stock. Net income for the year ended December 31, 2024, was $2,000,000. Required: Compute Hardaway's earnings per share for the year ended December 31, 2024. Note: Do not round intermediate calculations. Enter your answers in thousands (i.e., 10,000 should be entered as 10). Numerator $1,950,000. $ 800,000 20,000 Denominator 1,000,000 Earnings per Share 1.95

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Hardaway Fixtures' balance sheet at December 31, 2023, included the following: Shares issued and outstanding: Common stock, $1 par Nonconvertible preferred stock, $50 par On July 21, 2024, Hardaway issued a 25% stock dividend on its common stock. On December 12, it paid $50,000 cash dividends on the preferred stock. Net income for the year ended December 31, 2024, was $2,000,000. $ 800,000 20,000 Required: Compute Hardaway's earnings per share for the year ended December 31, 2024. Note: Do not round intermediate calculations. Enter your answers in thousands (i.e., 10,000 should be entered as 10). Numerator $1,950,000 Denominator Earnings per Share 1,000,000 1.95
Transcribed Image Text:Hardaway Fixtures' balance sheet at December 31, 2023, included the following: Shares issued and outstanding: Common stock, $1 par Nonconvertible preferred stock, $50 par On July 21, 2024, Hardaway issued a 25% stock dividend on its common stock. On December 12, it paid $50,000 cash dividends on the preferred stock. Net income for the year ended December 31, 2024, was $2,000,000. $ 800,000 20,000 Required: Compute Hardaway's earnings per share for the year ended December 31, 2024. Note: Do not round intermediate calculations. Enter your answers in thousands (i.e., 10,000 should be entered as 10). Numerator $1,950,000 Denominator Earnings per Share 1,000,000 1.95
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