Income before extraordinary item $6,000,000 Less: Preferred stock dividends 100,000 Income available to common stockholders $5,900,000...
| Income before extraordinary item | $6,000,000 | |||||||||||||||
| Less: Preferred stock dividends | 100,000 | |||||||||||||||
| Income available to common stockholders | $5,900,000 | |||||||||||||||
| Extraordinary item | -900,000 | |||||||||||||||
| Net income available to common stockholders | $5,000,000 | |||||||||||||||
| Common shares outstanding on January 1 | 3,000,000 | |||||||||||||||
|
Issuance of common stock on October 1
|
400,000 |
|||||||||||||||
Homework Answers
| Income before extraordinary item | $6,000,000 | ||
| Less: Preferred stock dividends | 100000 | ||
| Income available to common stockholders | $5,900,000 | ||
| Extraordinary item | -900,000 | ||
| Net income available to common stockholders | $5,000,000 | ||
| Common shares outstanding on January 1 | 3000000 | ||
| Issuance of common stock on October 1 | 400000 | ||
| Ans a | |||
| Weighted average shares | 3100000 | shares | |
| (3000000*12/12)+(400000*3/12) | |||
| ans b | |||
| EPS | calculation | answer | |
| Income before extraordinary item | 5900000/3100000 | $1.90 | |
| Extraordinary item | -900000/3100000 | -0.29 | |
| Net income | 5000000/3100000 | $1.61 | |
| If any doubt please comment |
Add Answer to:
Income before extraordinary item
$6,000,000
Less: Preferred stock dividends
100,000
Income available to common stockholders
$5,900,000...
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