Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. stanley department stores reported net income of $

Stanley Department Stores reported net income of $725,000 for the year ended December 31, 2016...

90.2K

Verified Solution

Question

Accounting

image

Stanley Department Stores reported net income of $725,000 for the year ended December 31, 2016 Additional Information: Common shares outstanding at Jan. 1, 2016 Incentive stock options (vested in 2015) outstanding throughout 2016 (Each option is exercisable for one common share at an exercise price of $20.00) During the year, the market price of Stanley's common stock averaged $24.0 per share. On Aug. 30 Stanley sold 15,000 common shares. Stanley's only debt consisted of $30,000 of 10% short term bank notes. The company's income tax rate is 40%. 55,000 12,000 Required Compute Stanley's basic and diluted earnings per share for the year ended December 31, 2016. (Enter your answers in thousands.) NumeratorDenominator Earnings per Share Basic EPS Diluted EPS

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