Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. exercise 9-13 (algo) calculate basic eps lo 7 ring

Exercise 9-13 (Algo) Calculate basic EPS LO 7 Ringmeup Inc. had net income of $196,900...

80.2K

Verified Solution

Question

Accounting

image

Exercise 9-13 (Algo) Calculate basic EPS LO 7 Ringmeup Inc. had net income of $196,900 for the year ended December 31, 2019. At the beginning of the year, 41,000 shares of common stock were outstanding. On May 1, an additional 11.000 shares were issued. On December 1, the company purchased 4,700 shares of its own common stock and held them as treasury stock until the end of the year. No other changes in common shares outstanding occurred during the year. During the year. Ringmeup paid the annual dividend on the 6.000 shares of 3.65%, $100 par valve preferred stock that were outstanding the entire year. Required: Calculate basic earnings per share of common stock for the year ended December 31, 2019. (Do not round Intermediate calculations. Round your answer to 2 decimal places.) Earnings per share

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

Finance
1.2K views

The TP Company is looking to replace an existing machine with a new, more efficient version....

Finance
1.2K views

Mr. Art Deco will be paid $260,000 one year hence. This is a nominal flow, which...

Chemistry
1.2K views

Why do we use atomic absorption spectroscopy?

Programming
1.2K views

Case Study Project – PART I Overview The purpose of the case study project is to get you...

Biology
1.2K views

Dwarf mistletoes are flowering plants that grow on certain forest trees. They obtainnutrients and water...

Geometry
1.2K views

Find the areas of the sectors formed by ZNMP Round your answers to the nearest...

Geometry
1.2K views

Which polar equation below is the graph of TT 3 2TT 3 10 4TT 3...

Calculus
1.2K views

Find the critical point and classify it as a local maximum, local minimum, saddle point,...

Algebra
1.2K views

11 a Find the Z transform of 2n 5 sin b Find the inverse Z...

Finance
1.2K views

A? $10,000 bond with a coupon rate of? 5% paid semiminus?annually has five years to...

Finance
1.2K views

Which function is used to convert a value to a specific data type? FLOOR CAST...

Accounting
1.2K views

Calibri 12 AA 2 Styles Styles Pane 4. J.B. Good, Inc., a wholesaler, sold merchandise...