Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. at january 1, 2020, krispy corp. had 3,000,000 sha

At January 1, 2020, Krispy Corp. had 3,000,000 shares of common stock and 100,000 shares...

80.2K

Verified Solution

Question

Accounting

At January 1, 2020, Krispy Corp. had 3,000,000 shares of common stock and 100,000 shares of 4%, $50 par value cumulative preferred stock outstanding. Krispy did not declare or pay any dividends on either the common or preferred stock during 2020. On January 16, 2021, prior to the issuance of its financial statements for the year ended December 31, 2020, Krispy declared a 100% stock dividend on its common stock. Net income for 2020 was $9,400,000. In its 2020 financial statements, Krispy's 2020 basic earnings per share is...?

Have answer as 3.07 but want to be 100% sure as one person agrees and one person disagrees. What is the answer? Thank you!

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Statistics
1.2K views

Starting salaries of 64 college graduates who have taken a statistics course have a mean of...

Programming
1.2K views

Modify the original code and add an additional function of your choice. The function should be...

Biology
1.2K views

The following organ systems are involved in maintaining homeostasis of the body Match each organ...

Physics
1.2K views

Two identical unloaded generators are connected in parallel as shown in the figure Both the...

Calculus
1.2K views

The angle between 0 and 27 in radians that is coterminal with the angle 14...

Algebra
1.2K views

Problem25 In triangle ABC XY AB such that the area of triangle CXY is equal...

Algebra
1.2K views

Find mZEOF for Oo E

Accounting
1.2K views

Based on the following information: Create an amortization Schedule using...

Accounting
1.2K views

Accounts payable to me sometimes include non-current or long-term payables in certain circumstances true or...

Accounting
1.2K views

5. Deposits in transit a. have been recorded on the company's books but not yet...

Accounting
1.2K views

Problem 8-41 (LO, 7) Heron Company purchases commercial reaity on November 13, 2004, for $650,000....

Accounting
1.2K views

Which of the following are cash flows from operating activities? Select all that apply. ...