Corp. had 468,000 shares of common stock outstanding. During 2021, it had the following transactions that...

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Corp. had 468,000 shares of common stock outstanding. During2021, it had the following transactions that affected the CommonStock account.

On January 1, 2021, Coronado Corp. had 468,000 shares of commonstock outstanding. During 2021, it had the following transactionsthat affected the Common Stock account.

February 1Issued 115,000 shares
March 1Issued a 10% stock dividend
May 1Acquired 96,000 shares of treasury stock
June 1Issued a 3-for-1 stock split
October 1Reissued 63,000 shares of treasury stock

Determine the weighted-average number of shares outstanding asof December 31, 2021.

The weighted-average number of shares outstanding

  

  

Assume that Coronado Corp. earned net income of $3,288,000during 2021. In addition, it had 105,000 shares of 9%, $100 parnonconvertible, noncumulative preferred stock outstanding for theentire year. Because of liquidity considerations, however, thecompany did not declare and pay a preferred dividend in 2021.Compute earnings per share for 2021, using the weighted-averagenumber of shares determined in part (a). (Round answerto 2 decimal places, e.g. $2.55.)

Earnings Per Share

Assume the same facts as in part (b), except that the preferredstock was cumulative. Compute earnings per share for 2021.(Round answer to 2 decimal places, e.g.$2.55.)

Earnings Per Share

  

  

Assume the same facts as in part (b), except that net incomeincluded a loss from discontinued operations of $411,000 (net oftax). Compute earnings per share for 2021.


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4.1 Ratings (739 Votes)
AWeighted average no of shares outstanding Event date outstanding shares outstanding stock dividend restatement stock split restatement no of months 12 momths Weighted shares Beginning    See Answer
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