Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. please complete parts 4 and 5 using excel showing

Please complete parts 4 and 5 using excel showing formuals. Assume that the...

70.2K

Verified Solution

Question

Accounting

Please complete parts 4 and 5 using excel showing formuals.

image

Assume that the following data relative to Kane Company for 2018 is available: Net Income $2,100,000 Transactions in Common Shares Jan. 1, 2018, Beginning number Mar. 1, 2018, Purchase of treasury shares June 1, 2018, Stock split 2-1 Nov. 1, 2018, lssuance of shares Change (60,000) 640,000 240,000 Cumulative 700,000 640,000 1,280,000 1,520,000 6% Cumulative Convertible Preferred Stock Sold at par, convertible into 200,000 shares of common (adjusted for split) $1,000,000 Exercisable at the option price of $25 per share. Average market price in 2018, $30 (market price and option price adjusted for split) 90,000 shares Instructions 4.Compute the basic earnings per share for 2018. (Round to the nearest penny.) 5.Compute the diluted earnings per share for 2018. (Round to the nearest penny.)

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