On January 1, 2019, Paul acquired 80% of Saul. Information regarding the income and equity structure of the 2 companies as of the year ended December 31, 2019, is as follows: Paul Corp Saul Corp Internally generated net income Common shares outstanding during the year $114,000 $72,000 25,000 12,000 Warrants to acquire Paul stock, outstanding during the year 8% convertible (into Saul shares), $100 par preferred shares outstanding during the year Nonconvertible preferred shares outstanding 4,000 1,000 1,200 500 1) The warrants to acquire Paul stock were issued in 2018. Each warrant can be exchanged for one share of Paul stock at an exercise price of $14 per share 2) Each share of convertible preferred stock can be converted into 3 shares of Saul common stock. The preferred stock pays an annual dividend of $9,600. Paul owns 70% of the Convertible preferred stock. 3) The nonconvertible preferred stock was issued in 2017, and pays a 6 month dividend of $750 Compute the basic EPS for the year ended December 31, 2019

On January 1, 2020, Stellar Industries had stock outstanding as follows. 6% Cumulative preferred stock, $100 par value, issued and outstanding 9,300 shares   $930,000 Common stock, $10 par value, issued and outstanding 220,000 shares   2,200,000 To acquire the net assets of three smaller companies, Stellar authorized the issuance of an additional 160,800 common shares. The acquisitions took place as shown below. Date of Acquisition   Shares Issued Company A April 1, 2020   48,000 Company B July 1, 2020   82,800 Company C October 1, 2020   30,000 On May 14, 2020, Stellar realized a $93,600 (before taxes) insurance gain on discontinued operations. On December 31, 2020, Stellar recorded income of $282,000 from continuing operations (after tax).Assuming a 20% tax rate, compute the earnings per share data that should appear on the financial statements of Stellar Industries as of December 31, 2020.  Stellar IndustriesIncome Statement…

On January 1, 2020, Splish Industries had stock outstanding as follows. 6% Cumulative preferred stock, $100 par value, issued and outstanding 9,600 shares   $960,000 Common stock, $10 par value, issued and outstanding 181,000 shares   1,810,000 To acquire the net assets of three smaller companies, Splish authorized the issuance of an additional 159,600 common shares. The acquisitions took place as shown below. Date of Acquisition   Shares Issued Company A April 1, 2020   49,200 Company B July 1, 2020   79,200 Company C October 1, 2020   31,200 On May 14, 2020, Splish realized a $90,000 (before taxes) insurance gain on discontinued operations. On December 31, 2020, Splish recorded income of $312,000 from continuing operations (after tax).Assuming a 20% tax rate, compute the earnings per share data that should appear on the financial statements of Splish Industries as of December 31, 2020. (Round answer to 2 decimal places, e.g. $2.55.) Splish Industries Income…

Following are separate financial statements of Michael Company and Aaron Company as of December 31, 2021 (credit balances indicated by parentheses). Michael acquired all of Aaron’s outstanding voting stock on January 1, 2017, by issuing 20,000 shares of its own $1 par common stock. On the acquisition date, Michael Company’s stock actively traded at $23.50 per share.     Michael Company12/31/21   Aaron Company12/31/21 Revenues $ (610,000 )   $ (370,000 ) Cost of goods sold   270,000       140,000   Amortization expense   115,000       80,000   Dividend income   (5,000 )     0   Net income $ (230,000 )   $ (150,000 ) Retained earnings, 1/1/21 $ (880,000 )   $ (490,000 ) Net income (above)   (230,000 )     (150,000 ) Dividends declared   90,000       5,000   Retained earnings, 12/31/21 $ (1,020,000 )   $ (635,000 ) Cash $ 110,000     $ 15,000   Receivables   380,000       220,000   Inventory   560,000       280,000   Investment in Aaron Company   470,000…