On December 31, 2020, Shenandoah Company had 100,000 shares of common stock outstanding and 40,000 shares of 6%, $50 par, cumulative preferred stock outstanding. On February 28, 2021, Shenandoah purchased 34,000 shares of common stock on the open market as treasury stock paying $50 per share. Shenandoah sold 7.000 treasury shares on September 30, 2021, for $55 per share. Net income for 2021 was $190,905. Also outstanding during the year were fully vested incentive stock options giving key officers the option to buy 60.000 common shares at $50. The market price of the common shares averaged $60 during 2021. Required: Compute the company's basic and diluted earnings per share for 2021. (Round your answers to 2 decimal places.) Bask Ded Earings per
On December 31, 2020, Shenandoah Company had 100,000 shares of common stock outstanding and 40,000 shares of 6%, $50 par, cumulative preferred stock outstanding. On February 28, 2021, Shenandoah purchased 34,000 shares of common stock on the open market as treasury stock paying $50 per share. Shenandoah sold 7.000 treasury shares on September 30, 2021, for $55 per share. Net income for 2021 was $190,905. Also outstanding during the year were fully vested incentive stock options giving key officers the option to buy 60.000 common shares at $50. The market price of the common shares averaged $60 during 2021. Required: Compute the company's basic and diluted earnings per share for 2021. (Round your answers to 2 decimal places.) Bask Ded Earings per
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:On December 31, 2020, Shenandoah Company had 100,000 shares of common stock outstanding and 40,000 shares of 6%, $50 par,
cumulative preferred stock outstanding. On February 28, 2021, Shenandoah purchased 34,000 shares of common stock on the open
market as treasury stock paying $50 per share. Shenandoah sold 7.000 treasury shares on September 30, 2021, for $55 per share.
Net income for 2021 was $190,905. Also outstanding during the year were fully vested incentive stock options giving key officers the
option to buy 60.000 common shares at $50. The market price of the common shares averaged $60 during 2021.
Required:
Compute the company's basic and diluted earnings per share for 2021. (Round your answers to 2 decimal places.)
Busc
Did
Eamings per
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