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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 $45,000 cash dividends on the preferred stock. Net income for the year ended December 31, 2024, was $3,600,000. 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 $ 960,000 20,000 Denominator Earnings per Share

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 $45,000 cash dividends on the preferred stock. Net income for the year ended December 31, 2024, was $3,600,000. 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 $ 960,000 20,000 Denominator Earnings per Share

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Vikrambhai 

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 $45,000 cash dividends on the preferred stock. Net income for the year ended December 31, 2024, was $3,600,000. 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 Denominator $ 960,000 20,000 = Earnings per Share
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 $45,000 cash dividends on the preferred stock. Net income for the year ended December 31, 2024, was $3,600,000. 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 Denominator $ 960,000 20,000 = Earnings per Share
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