Question: At December 31 2010 and 2011 Funk Noble Corporation
At December 31, 2010 and 2011, Funk & Noble Corporation had outstanding 820 million shares of common stock and 2 million shares of 8%, $100 par value cumulative preferred stock. No dividends were declared on either the preferred or common stock in 2010 or 2011. Net income for 2011 was $426 million. The income tax rate is 40%. Calculate earnings per share for the year ended December 31, 2011.
Answer to relevant QuestionsFully vested incentive stock options exercisable at $50 per share to obtain 24,000 shares of common stock were outstanding during a period when the average market price of the common stock was $60 and the ending market price ...Kmart Holding Co. included the following disclosure note in an annual report:Required:1. Based on the information provided in the disclosure note, determine the weighted average market price of the restricted stock issued.2. ...For the year ended December 31, 2011, Norstar Industries reported net income of $655,000. At January 1, 2011, the company had 900,000 common shares outstanding. The following changes in the number of shares occurred during ...Stanley Department Stores reported net income of $720,000 for the year ended December 31, 2011.Additional Information:Common shares outstanding at Jan. 1, 2011 ............ 80,000Incentive stock options (vested in 2010) ...As part of its stock-based compensation package, International Electronics granted 24 million stock appreciation rights (SARs) to top officers on January 1, 2011. At exercise, holders of the SARs are entitled to receive ...
Post your question