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
mr Goodwill [35]
3 years ago
13

Crane Company had 190000 shares of common stock, 19000 shares of convertible preferred stock, and $1490000 of 4% convertible bon

ds outstanding during 2021. The preferred stock is convertible into 39000 shares of common stock. During 2021, Crane paid dividends of $0.80 per share on the common stock and $2 per share on the preferred stock. Each $1,000 bond is convertible into 30 shares of common stock. The net income for 2021 was $590000 and the income tax rate was 30%. Basic earnings per share for 2021 is (rounded to the nearest penny)
Business
1 answer:
Mrac [35]3 years ago
8 0

Answer:

Basic earnings per share(EPS)=$2.90

Explanation:

<em>Earnings per share is the total earnings attributable to ordinary shareholders divided by the number of units of common stock . </em>

<em>It represents profit per unit of stock unit held by common stock holder investor. The higher, the more profitable and the better.</em>

Earnings per share = Earnings attributable to ordinary shareholders / units of common stock

Earnings attributable to ordinary shareholders= Net income after tax - preference dividend

Net Income 2021= $590,000=

Preference Dividend  =$2 × 19,000=$38,000

Earnings attributable to ordinary shareholders for 2021=

=$590,000-$38,000=$552,000

Basic Earnings per share=$552,000/190,000 shares=$2.90

Basic earnings per share(EPS)=$2.90

You might be interested in
A corporation has issued 50,000,000 shares of common stock at $.50 par. The corporation has 10,000,000 shares of Treasury Stock
Alex777 [14]

Answer:

A. $20,000,000

Explanation:

Issued stock is the total number of shares issued by the company.

Treasury stock are those share which is company has bought back from the market.

Outstanding stock are the share which is held by the stockholders of the company. The treasury shares are excluded from it because these share are held by company by itself not by the stockholders.

Issued Share of the corporation = 50,000,000 share

Treasury shares = 10,000,000 shares

Outstanding share = 50,000,000 - 10,000,000 = 40,000,000 shares

Aggregate par value of outstanding shares = 40,000,000 x $0.50

Aggregate par value of outstanding shares = $20,000,000

5 0
3 years ago
On August 1, 2018, Kira purchased 100 shares of ITC stock for $5,000. There were no subsequent adjustments to her basis. On Augu
padilas [110]

Answer:

b. Short-term loss of $700 and a long-term gain of $900.

Explanation:

August 1, 2018, price per share $50

August 1, 2019, sold 50 shares at $36, resulting in a short term capital loss of ($700)

August 31, 2019, sold 50 shares at $68, resulting in a long term capital gain of $900

If you own a stock for 1 year or less, any gain/loss will be considered short term. If you own a stock for more than 1 year, any gain/loss will be considered long term.

8 0
3 years ago
Based on the industry-low, industry-average, and industry-high values for the benchmarked data on p. 7 of the FIR, which one of
BARSIC [14]

Answer:

The Correct answer is "The Company’s cost of branded pair sold in the Asia-Pacific region was barely below the industry average".

Explanation:

At the point when the working benefits of the Company's Cost of branded pair sold in the Asia-Pacific district is below the normal of industry-high qualities, the organization's expense of branded pair sold in that area turns out to be subsequently a legitimate sign that there is positively Company's too high relative expense in atleast one components that it enjoys.

3 0
3 years ago
Determine the value of z.
TiliK225 [7]

Explanation:

Let angle y be the unknown angle inside the triangle.

given

y + 87 + 34 = 180 (sum of angles in a triangle)

y + 87 + 34 = 180 \\ y + 121 = 180 \\ y = 180 - 121 \\  = 59

given y + z = 180 (angles on same straight line)

y + z = 180 \\ 59 + z = 180 \\ z = 180 - 59 \\  = 121

3 0
3 years ago
Read 2 more answers
George is looking at the colors on a paint swatch card to select the right shade of red for his wall. he is able to differentiat
bulgar [2K]

Based on his perception of the differences in the shades, this can be attributed to the wavelengths of light reflecting from the shades. Wavelength in physics is being defined as measuring the direction in regards of the propagation of a wave in which are in between a two successive points in the wave that are being characterized by its same phase.

4 0
3 years ago
Other questions:
  • Ravenshaw Corp. assigns its sales and marketing people to specific countries, regions, and districts. Ravenshaw Corp. is most li
    14·1 answer
  • Product U23N has been considered a drag on profits at Jinkerson Corporation for some time and management is considering disconti
    7·1 answer
  • Discuss the venture capital process
    12·1 answer
  • A company is conducting market research to determine the best areas to sell its product. It has already determined its research
    13·1 answer
  • On November 10 of the current year, Flores Mills sold carpet to a customer for $8,000 with credit terms 1/10, n/30. Flores uses
    7·1 answer
  • The CFO of Edward's Food Distributors is continually receiving capital funding requests from its division managers. These reques
    14·1 answer
  • Jonah tells his friend Derek that he would like to go parasailing. Derek is very enthusiastic and suggests that they try an outf
    5·1 answer
  • On June 25, Snap Repair Service extended an offer of $170,000 for land that had been priced for sale at $194,000. On July 9, Sna
    15·1 answer
  • Which of the following is NOT a common feature of a
    5·1 answer
  • At the beginning of the year, The Mann Corporation, a private entity, decided to go public.
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!