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Textbook ent CALCULAIOR ธ.ILL SCREIN RİNTER VERSİON eBAO, Exercise 16-16 On January 1, 2018, Sage Corp. had 480,000 shares of common stock outstanding. During 2018, a February 1 Issued 117,000 shares March 1 May 1 Issued a 10% stock dividend Acquired 101,000 shares of treasury stock Issued a 3-for-1 stock split Reissued 62,000 shares of treasury stock , June 1 October 1 X Your answer is incorrect. Try again. Determine the weighted-average number of shares outstanding as of December 31, 2018. The weighted-average number of shares outstanding 395523 1591308 LINK TO TEXT x Your answer is incorrect. Try again. Assume that Sage Corp. earned net income of $3.500,000 during 2018. In addition t had 96,000 shares of 9% s i parn convertible, noncumulative prefe ed e 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 ansiwer to 2 decimal places, e.g. $2.55)
CALCULATOR I FULL SCREEN PRINTER VERSION BACK 3Your answer is incorrect. Try again. Assume that Sage Corp. earned net income of帛3,500,000 during 2018. In addition, it had 96,000 shares of 9%, $100 par non onvertible noncumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the company did not declare and pay a preferred dividend in 2019, Compute earnings per share for 2018, using the weighted-average number of shares determined in part (a). (Round answer to 2 decimal places,eo.$2.55.) Earnings Per Share LINK TO TEXT [ Your answer is incorrect. Try again. Assume the same facts as in part (b), except that the preferred stock was cumulative. Compute earnings per share for z018. (Round ansswer to 2 decimat Earnings Per Share places, e.o. $2.5s) LINK TO TEXT Your answer is partially correct. Try again. Assume the same facts as in part (b), except that net income included a loss from discontinued operations of $452.000 (net of tax). Compute eamings per share for 2018. (Round 02 PM x® ^ 94) ณี ENG 27/01/2019
Assignment Gradebook ORION Downloadable eTextbook ment LINK TO TEXT SOREEN PRINTER VERSION BACK Your answer is partially correct. Try again. Assume the same facts as in part (b), except that net income induded a loss from discontinued operations of $4 answer to 2 decimal places, e.g.$2.55.) 52,000 (net of tax). Compute earnings per share for 2018. (Round Sage Corp. Income Statement For the Year Ended December 31, 2018 Net Income / (Loss) Loss From Discontinued Operations 452000 3952 Net Income/(Loss) LINK TO TEXT Question Attempts: 1 of 3 used SAVE FOR LATERSUETE ANSWTS 02 PM
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Answers are highlighted in yellow: Stock Split After Restatement Restatement Restatement month Solution: A)Event Date Share Stock Div No. of /12 months Weighted Shares 12 12 12 12 12 12 Jan 1 to Feb 1 Feb 1 to Mar1 Beg Issue share Stock dividend Mar 1 to May 1 б56700 Reacquired shares May 1 to Jun 1 555700 Stock split Reissued shares Oct 1 to Dec 31 1729100 Weighted Average number of share outstanding 132000 164175 328350 138925 555700 432275 1751425 1.1 1.1 3.0 597000 1970100 1970100 1667100 1 1 Jun 1 to Oct 1 1667100 4 B) Earning per share -(Net Income - Preferred stock dividends)/Weighted average number of shares (3500000-0)/1751425 2.00 C) Earning per share (Net Income Preferred stock dividends)/Weighted average number of shares (3500000)-(9600000*996)/1751425 1.51 Net Income Add: A loss from discontinued operations, net of tax Net Income from continuing operation EPS: 452000 3952000 Income Statement Income from countinuing operation (3952000/1751425) Loss from discontinuing operation (452000/1751425) Net Income /-loss D) 2.26 $-0.26 2.00

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