1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
WITCHER [35]
3 years ago
15

Ahnberg Corporation had 680,000 shares of common stock issued and outstanding at January 1. No common shares were issued during

the year, but on January 1, Ahnberg issued 300,000 shares of convertible preferred stock. The preferred shares are convertible into 600,000 shares of common stock. During the year Ahnberg paid $180,000 cash dividends on the preferred stock. Net income was $2,152,000.
What were Ahnberg's basic and diluted earnings per share for the year?
Business
1 answer:
liberstina [14]3 years ago
8 0

Answer:

EPS is $2.9 per share

Diluted EPS is $1.54 per share

Explanation:

Basic Earning per share is calculated dividing Earning for the year excluding preferred dividend by weighted average number of shares.

Basic EPS = (Net Income - Preferred dividends) / Weighted Average numbers of share

Basic EPS = ($2,152,000 - $180,000) / 680,000 = $2.9 per share

Diluted earning per share is calculated by adjusting all the convertible share options or securities in the outstanding share.

Diluted EPS = (Net Income - Preferred dividends) / Diluted numbers of share

Diluted EPS = ($2,152,000 - $180,000) / ( 680,000 + 600,000 )

Diluted EPS = $1.54 per share

You might be interested in
Last year Harrington Inc. had sales of $325,000 and a net income of $19,000, and its year-end assets were $250,000. The firm's t
anzhelika [568]

Answer:

8.94%

Explanation:

Firstly, we will need to find total equity and total debt of Harrington Inc inorder to apply the Dupont equation for getting ROE

Harrington's total debt = 15.00 % × $250,000

= $37,500

Harrington's total equity will be; applying accounting equation

Asset = Liabilities + Owner's equity

Owner's equity = Assets - Liabilities

= $250,000 - $37,500

= $212,500

Therefore, using the Dupont equation, we can calculate the ROE as;

(NI/Sales) × (Sales/Total assets) × (Total assets/Total common equity)

= 19,000/325,000 × 325,000 /250,000 × 250,000/212,500

= 8.94%

7 0
3 years ago
Coach's agreement with Lexus to produce automobiles with Coach leather interior is an example of A. co-branding. B. architectura
nikitadnepr [17]

Answer:

CO-BRANDING

Explanation:

Also known as brand partnership, it is a marketing strategy that incorporates multiple brands on a good or service. It involves the brands of at least 2 organisations. Just like the Lexus and coach described above.

8 0
3 years ago
Kogler Corporation's relevant range of activity is 7,000 units to 11,000 units. When it produces and sells 9,000 units, its aver
blsea [12.9K]

Answer:

$12.45

Explanation:

Calculation to determine what the contribution margin per unit sold is closest to:

First step is to calculate the Variable cost per unit using this formula

Variable cost per unit = Direct materials per unit + Direct labor per unit + Variable manufacturing overhead per unit + Sales commissions per unit + Variable administrative expense per unit

Let plug in the formula

Variable cost per unit = $5.15 + $5.30 + $1.95 + $0.60 + $0.55

Variable cost per unit = $13.55

Now let determine the Contribution margin per unit using this formula

Contribution margin per unit = Selling price per unit - Variable cost per unit

Let plug in the formula

Contribution margin per unit = $26.00 - $13.55

Contribution margin per unit = $12.45

Therefore the contribution margin per unit sold is closest to:$12.45

4 0
3 years ago
For the month of May, the company planned for activity of 112 births, but the actual level of activity was 114 births. The actua
s2008m [1.1K]

Answer:

D)

Explanation:

i think its right.. but i may be wrong.. i tried either way.

4 0
3 years ago
Assume that activity G has the following times: Early start time 7 days Early finish time 13 days Late start time 15 days Late f
Aloiza [94]

Answer:

The correct answer is Activity G has s slack time of 8 days.

5 0
3 years ago
Other questions:
  • Shankar Company uses a perpetual system to record inventory transactions. The company purchases 1,500 units of inventory on acco
    15·1 answer
  • Brandon Consulting Company is headquartered in Atlanta and has branch offices in Nashville and Birmingham. Brandon uses an activ
    11·1 answer
  • American Chip Corporation’s reporting year-end is December 31. The following is a partial adjusted trial balance as of December
    14·1 answer
  • What should you plan for first when creating a budget
    14·1 answer
  • Assume that Firm ABC has revenues of $120,000 for both 2017 and 2018. It also has operating expenses of $40,000 for each of thes
    6·1 answer
  • Net present value ____________________. Group of answer choices compares project cost to the present value of the project benefi
    14·1 answer
  • A corporation issued 5,000 shares of $20 par value common stock for $120,000 cash. A corporation issued 2,500 shares of no-par c
    15·1 answer
  • Inventory records for Dunbar Incorporated revealed the following: Date Transaction Number of Units Unit Cost Apr. 1 Beginning in
    8·1 answer
  • Explain in more than 3 sentences why does the USA imports so much from China.
    6·1 answer
  • In kennedy's speech to rice university, find at least one example of: scope time cost quality human resources communication risk
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!