Question

On January 1, 2018, Marigold Corp. had 491,000 shares of common stock outstanding. During 2018, it had the following transactions that affected the Common Stock account. February 1 Issued 114,000 shares March 1 Issued a 10% stock dividend May 1 Acquired 103,000 shares of treasury stock June 1 Issued a 3-for-1 stock split October 1 Reissued 60,000 shares of treasury stock Part 1 Incorrect answer icon Your answer is incorrect. Determine the weighted-average number of shares outstanding as of December 31, 2018. The weighted-average number of shares outstanding enter the weighted-average number of shares outstanding as of December 31, 2018 eTextbook and Media Attempts: 3 of 15 used Save for LaterSubmit Answer Part 2 Assume that Marigold Corp. earned net income of $3,619,000 during 2018. In addition, it had 98,000 shares of 9%, $100 par nonconvertible, noncumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the company did not declare and pay a preferred dividend in 2018. Compute earnings per share for 2018, using the weighted-average number of shares determined in part (a). (Round answer to 2 decimal places, e.g. $2.55.) Earnings Per Share $ enter earnings per share rounded to 2 decimal places eTextbook and Media Attempts: 0 of 15 used Save for LaterSubmit Answer Part 3 Assume the same facts as in part (b), except that the preferred stock was cumulative. Compute earnings per share for 2018. (Round answer to 2 decimal places, e.g. $2.55.) Earnings Per Share $ enter earnings per share rounded to 2 decimal places eTextbook and Media Attempts: 0 of 15 used Save for LaterSubmit Answer Part 4 Assume the same facts as in part (b), except that net income included a loss from discontinued operations of $431,000 (net of tax). Compute earnings per share for 2018. (Round answer to 2 decimal places, e.g. $2.55.) Marigold Corp. Income Statement choose the accounting period select an opening name for this statement $ enter a dollar amount per share rounded to 2 decimal places select an income statement item enter a dollar amount per share rounded to 2 decimal places select a closing name for this statement enter a total earnings per share amount rounded to 2 decimal places eTextbook and Media

Answer 1

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